The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has invited investors to consider Nigeria as a prime destination for energy investments, citing the country’s stable upstream sector and high-quality crude oil.
Speaking at the CERAWeek by S&P Global conference in Houston, Texas, United States, Lokpobiri described Nigeria’s crude oil as “one of the best in the world” and highlighted ongoing discussions with major International Oil Companies (IOCs) including Shell, Chevron, Total, Eni, and ExxonMobil.
Before now, Nigeria wasn’t seen as an attractive destination for investment, but for the past 15 years or more, we haven’t experienced any upstream disruption. We have assured investors of clarity, certainty, and stability in our fiscal, regulatory, and legal frameworks,” Lokpobiri told Channels Television on the sidelines of the conference.
He explained that the Nigerian delegation’s participation aimed to position the country as a preferred investment destination amid global energy uncertainties. “We are telling them just one message – come to Nigeria to invest instead of locations where security may not be guaranteed. Nigeria is offering an alternative to global investment in the energy sector,” he added.
Lokpobiri also addressed the downstream sector, outlining the ministry’s plans to improve it and attract further foreign investment. He emphasized that the reforms implemented under President Bola Tinubu have created a conducive environment for energy investments, bringing back opportunities that were previously limited over the past decade.
“Nigeria is ready for investment. There’s a new Nigeria where investment is welcome, and we are creating a globally competitive environment,” the minister said.
Nigeria’s crude oil, backed by a decade of stability in upstream operations, remains a focal point of the government’s strategy to attract international investment and strengthen the country’s energy sector.
