Mkpoikana Udoma
Port Harcourt — Nigeria’s bid to strengthen domestic refining received a major lift as the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, assured investors of expedited approvals for new modular refinery projects, insisting that ramping up crude production has become an economic imperative.
In a statement shared on his official X handle, the minister said Nigeria remains “one of the most attractive destinations for investment,” particularly in the oil and gas industry where the country’s vast market and strong fundamentals “continue to drive investor confidence.”
Lokpobiri gave the assurance during an engagement with the Gas Group, which visited to present progress updates on its proposed modular refinery targeting resources along the Egbema axis of Imo State.
He stressed that increasing crude output is now primarily driven by Nigeria’s need to meet feedstock obligations to local refineries.
“One major reason for ramping up production is to meet our feedstock obligations to refineries,” Lokpobiri said. “This is essential for servicing the millions of Nigerians who rely on petroleum products for daily living.”
According to him, local refining is not just an energy security requirement but a vital economic strategy that ensures value retention across the petroleum value chain.
“Refining within our borders guarantees in-country value retention,” he noted, reiterating that domestic processing remains central to the administration’s reform agenda.
Lokpobiri assured the Gas Group that its refinery licence would receive fast-tracked consideration once submitted to the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, provided all statutory criteria are met.
“I assured the Gas Group of expedited consideration of their licence once submitted, provided all legal requirements are met,” he said.
The minister added that the approval philosophy aligns fully with President Bola Ahmed Tinubu’s transformative energy vision, which seeks to optimise Nigeria’s petroleum resources for economic expansion and improved local capacity.
He emphasised that despite global shifts, oil and gas will continue to dominate global energy demand for decades.
“With oil and gas remaining dominant global energy sources for the foreseeable future, Nigeria is strategically positioned to harness these resources for national growth,” he stated.
Lokpobiri maintained that increasing investment inflows and supporting refinery development will place Nigeria in a stronger position to meet both domestic needs and international obligations.
