Mkpoikana Udoma
Port Harcourt — Nigeria is fully open for investment in its energy sector, Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, declared at the ongoing 8th Nigeria International Energy Summit, NIES, stating emphatically, “Nigeria is ready for business.”
Delivering the Oil Industry Address at the opening ceremony in Abuja, Lokpobiri highlighted recent reforms aimed at attracting global investors, emphasizing that the country’s energy sector guarantees “mutual profitability for both investors and the nation.”
He said, “Under the visionary leadership of President Bola Ahmed Tinubu, we have created an investor-friendly environment that encourages sustainable partnerships. Nigeria has addressed longstanding bottlenecks through a robust legal framework and an enabling environment.”
The Minister pointed to Presidential Executive Orders as key measures taken to streamline operations for investors, positioning Nigeria as a “gateway to the larger West African market.”
With vast oil and gas reserves and a commitment to sector-wide transformation, Nigeria aims to balance investment incentives with global energy transition efforts. However, Lokpobiri made it clear that the country would not “abandon fossil fuels prematurely” in the rush toward cleaner energy.
“Our priority remains addressing energy poverty while advancing sustainable solutions. We have made significant strides in ensuring cleaner and greener exploration, with the Climate Change Act and the Petroleum Industry Act creating an enabling environment for investment.”
At the summit’s inaugural dinner, hosted by the Independent Petroleum Producers Group, IPPG, Lokpobiri reaffirmed Nigeria’s stance as a “partner of choice for global investors.”
He urged companies to seize opportunities in a market that extends beyond Nigeria, serving West Africa and global energy demands.
“Nigeria is not just an energy giant; we are an investment destination. Now is the time to tap into the immense potential our sector offers.”
The summit, which gathers global industry leaders, policymakers, and investors, serves as a platform for discussions on the future of energy in Nigeria and beyond.
