By Seun Ibiyemi
The Federal government through the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has intensified efforts to attract global investors to Nigeria’s oil and gas sector, declaring that government reforms have created a stable and competitive environment for investments.
Speaking at the CERAWeek by S&P Global in Houston, Lokpobiri described Nigeria’s crude oil as among the best globally and assured investors of strong returns.
He revealed that the Nigerian delegation engaged leading International Oil Companies (IOCs), including Shell, Chevron, TotalEnergies, Eni, and ExxonMobil, with encouraging responses.
“And you know, Nigeria’s crude is one of the best in the world. I believe that the message is syncing well and all of them have made commitments that when prioritising investment destinations, Nigeria will be a preferred choice,” he said.
Lokpobiri noted that Nigeria has maintained over a decade of uninterrupted upstream operations, a key indicator of stability that is helping to rebuild investor confidence.
“Before now, Nigeria wasn’t seen as attractive for investment, but for over 15 years, there has been no upstream disruption, and the facts are there,” he stated.
He stressed that ongoing fiscal reforms, regulatory clarity, and a stable legal framework are positioning Nigeria as a viable alternative for global energy investments, especially amid uncertainties in other regions.
According to the minister, Nigeria’s participation at the conference was driven by a clear message that the country is open for business and ready to welcome investors.
“The Nigerian delegation came with one message, Nigeria is ready for investment. There is a new Nigeria where investment is welcome as an alternative to what is happening in other parts of the world,” he said.
Lokpobiri also highlighted the need for diversified global energy investment destinations to ensure stability in supply, noting that Nigeria is well-positioned to play that role under the leadership of Bola Ahmed Tinubu.
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He disclosed that he held bilateral meetings with several energy companies, urging them to prioritise Nigeria as a secure and profitable investment destination.
“We are telling them come to Nigeria instead of investing in locations where security may not be guaranteed. Nigeria is offering a credible alternative for global energy investment,” he added.
The minister further outlined plans to improve the downstream sector, aimed at boosting efficiency and strengthening the overall performance of the oil and gas industry.
