By Seun Ibiyemi
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has declared that Nigeria is open for business, urging local and international investors to take advantage of opportunities in the country’s oil and gas sector.
Lokpobiri said the Federal Government was strengthening the investment climate through reforms, improved regulatory frameworks and policies designed to enhance profitability, boost investor confidence and unlock the sector’s vast economic potential.
The minister stated this while highlighting Nigeria’s investment prospects at the 17th International Energy Forum (IEF) Ministerial in Riyadh, Saudi Arabia, which he co-hosted with Italy’s Minister of the Environment and Energy Security, Gilberto Pichetto Fratin.
According to Lokpobiri, sustained investment, resilient energy infrastructure and policies that guarantee reliable and affordable energy are essential to achieving energy security and driving economic growth.
He stressed that Nigeria was committed to creating an enabling environment where investors could translate available opportunities into tangible returns while contributing to the country’s development.
“Energy security begins with timely investment,” the minister said, emphasising the need for countries to mobilise the capital required to develop energy resources and strengthen supply systems.
Lokpobiri’s remarks underscore the Federal Government’s efforts to attract fresh capital into Nigeria’s petroleum industry through policy reforms and improved regulatory certainty.
The oil and gas sector remains a major source of government revenue and foreign exchange earnings, making investment critical to sustaining production, developing infrastructure and maximising the value of the country’s hydrocarbon resources.
The minister maintained that Nigeria was ready to collaborate with investors and other stakeholders to develop its energy sector, strengthen energy security and support sustainable economic growth.
He indicated that improving investor confidence and ensuring that projects offer viable returns would be central to the country’s efforts to unlock its petroleum potential.
Beyond Nigeria’s domestic investment agenda, Lokpobiri called for greater support for Africa to develop its natural resources responsibly while expanding access to cleaner energy.
READ ALSO:Shettima woos North for Tinubu’s 2027 re-election, cites ₦450bn farm loans
He argued that African countries should have the opportunity to harness their available resources to meet growing energy demand, improve living standards and support industrialisation.
The minister also highlighted the importance of resilient energy infrastructure and long-term investment in ensuring reliable and affordable energy supplies.
He said energy policies should balance energy security, affordability and environmental sustainability while enabling countries to pursue development priorities.
The 17th International Energy Forum Ministerial provided a platform for discussions on energy investment, security, affordability and international cooperation.
Lokpobiri used the engagement to present Nigeria as a potential destination for investors seeking opportunities in the oil and gas industry, while reaffirming the country’s readiness to work with international partners.
He said partnerships that combine investment, infrastructure development and effective policies would help convert energy resources into economic benefits.
The minister’s message was that Nigeria’s investment ambitions would depend on sustained reforms, investor confidence and the ability to deliver commercially viable projects.
For the country, attracting new capital into the petroleum sector remains important to supporting production, creating jobs, strengthening public revenue and expanding the contribution of energy to economic growth.
