While the phrase “Czar in the Nation’s Oil sector” is not an official title, it is often used informally to refer to the Minister of State for Petroleum Resources, Senator Heineken Lokpobiri PhD, who is playing a significant leadership role in Nigeria’s oil sector.
Since his assumption of office, the nation’s narrative within and outside the country has changed with high-level meetings and initiatives aimed at boosting production and attracting investment within the sector.
He has interpreted the reforms of the present administration of President Bola Tinubu into reality and such realities are beginning to change the oil sector policy of the present administration and transferring wealth and security to investors and Nigerians at alarge.
In less than two years, the nation’s oil sector has shown appreciable level of stability, increase in production capacity, increased participation of investors and the needed calm in the exploration activities in the Niger Delta region.
Nigeria’s crude oil output has recorded modest improvement with over 1.8million barrell per day recorded under the last administration of Mele Kyari at the NNPCL. This, according to experts, is a positive trend in the oil sector.
The decision by the President Bola Tinubu to issue landmark executive order on cost efficiency in oil and gas sector has also largely set out targets for new investments, improved revenues and greater values for Nigerians.
Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri has attributed the decisive leadership style of President Bola Tinubu to the successes recorded with the increase in the the current production capacity to 1.8mbpd, inclusive of condensates.
According to Lokpobiri, the decisive leadership style of President Tinubu led administration also addressed the longstanding investment bottlenecks that had hindered the sector’s progress.
The Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, while speaking during the Inter-Ministerial/Energy Leadership Roundtable at #NIES2025, on the subtheme – “Catalyzing Global Investment: Policy Pathways to Unlock Africa’s Energy Potential.” ,said achieving a production increase from the 1mbpd we met upon resumption to the current 1.8mbpd, inclusive of condensates, would not have been possible without significant additional investments from industry players.
He said “I must extend profound appreciation to President Bola Ahmed Tinubu, whose decisive leadership swiftly addressed longstanding investment bottlenecks that had hindered the sector’s progress.”
“From the issuance of targeted Executive Orders to the full implementation of the Petroleum Industry Act (PIA) and full deregulation of the downstream sector, we have created an investment-friendly environment that continues to attract global and local capital into the energy sector.”
“Notably, Africa’s proactive establishment of the Africa Energy Bank has galvanized access to funding, empowering indigenous investors to compete favourably with International Oil Companies (IOCs) across all industry streams.”
” This momentum is projected to be sustained, ensuring long-term growth and resilience in Africa’s energy sector.”
The new oil policy direction of the Federal Government on boosting by deliberately building synergy with partners is already achieving true energy security.
Speaking at the 9th OPEC International Summit in Vienna, Sen. Lokpobiri insisted that the vision of the present administration of President Bola Tinubu is a journey that requires not only clear vision but deliberate, strategic engagements, both at home and abroad.
According to him,” In our drive to boost investment in Nigeria’s oil sector, building synergy with our partners and prospects remains critical to arriving at the space we desire in achieving true energy security.”
” It is a journey that requires not only clear vision but deliberate, strategic engagements, both at home and abroad.”
Lokpobiri also outlined the set down priority laid down under the Renewed Hope administration of President Bola Ahmed Tinubu, insisting that the Federal Government is prioritizing strategic investments in Nigeria’s oil sector.
According to Senator Heineken Lokpobiri, the investment is already building robust partnerships geared towards sustainable progress.
Sen. Heineken Lokpobiri Ph.D. also predicted that the efforts by the President Tinubu’s administration is guaranteeing national prosperity for Nigerians and mutual prosperity for our global investment partners.
Change from the past
Unlike past administrations, President Bola Tinubu, through the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri PhD, has also declared an end to the era where oil companies acquire field licenses and leave them dormant.
The Minister issued the warning at the ongoing 2025 Nigeria Oil and Gas Energy Week in Abuja, as part of a renewed push to meet its OPEC production quota and 2025 budgetary targets.
The government warned that it will no longer tolerate operators lacking the technical and financial capacity to develop oil fields, stressing that such licenses will be withdrawn.
He said the government is determined to maximize oil production by ensuring that only serious investors retain access to Nigeria’s hydrocarbon resources.
Nigeria is leading the charge for Global Financing and Energy Security
Already, the President Bola Tinubu’s reforms in the oil sector is already chatting the desired path where Nigeria is taking up the mantle of leadership as the giant of Africa in terms of global oil financing and advocate of energy security.
Senator Heineken Lokpobiri emphasized that Africa’s distinct approach to energy transition is one that prioritizes combating energy poverty while advancing sustainable development.
The minister stated this while attending the exclusive reception dinner hosted by the Embassy of the United Kingdom of Belgium in Nigeria ahead of this year’s Nigeria International Energy Summit (NIES).
Lokpobiri explained that because of the need for accessible energy solutions he invited investors to explore Nigeria’s oil sector, clarifying that “our focus is on securing investments, not loans, to drive mutual economic growth.”
He hinted that he also called for a globally inclusive energy transition framework that reflects Africa’s unique developmental challenges and ensures no region is marginalized in the global shift toward cleaner energy sources.
The Federal Government of Nigeria has also confirmed its readiness to host the headquarters of the Africa Energy Bank (AEB), following the country’s successful bid in July 2024.
Preparations are in top gear to ensure a seamless operational launch of the Bank in the first quarter of 2025, marking a significant milestone in Africa’s energy sector development.
At the 46th Ordinary Session of the Ministerial Council of the African Petroleum Producers’ Organization (APPO) held in Yaoundé, Cameroon, Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ph.D., reaffirmed Nigeria’s commitment to the Bank’s establishment.
While speaking to the Ministers of the 18 APPO member States, Lokpobiri expressed Nigeria’s enthusiasm for the project, stating, “We are prepared to host the Africa Energy Bank, and our dedication to enhancing funding for Africa’s energy sector remains unwavering.”
A cornerstone of the Bank’s mission is to bridge financing gaps within Africa’s oil and gas industry, facilitating advancements in energy infrastructure across the continent.
Lokpobiri emphasized that the Federal Government, under President Bola Ahmed Tinubu’s leadership, has taken significant steps to lay the groundwork for the Bank’s strategic objectives.
“Our commitment is underscored by Nigeria’s contribution of $69.1 million in equity funding to the Africa Energy Bank, which demonstrates our leadership role in supporting critical energy initiatives on the continent,” he noted.
Beyond financial contributions, Nigeria has also formally signed and ratified the AEB Establishment Agreement and Charter, a development that APPO has praised as a significant leap toward establishing the Bank.
With the Treaty now in effect, the legal and operational framework is set, paving the way for the AEB’s launch and enabling it to advance its objectives of enhancing energy security and promoting sustainable development across the continent.
Lokpobiri further called on other APPO member countries to join Nigeria in accelerating their financial commitments to the Bank. “I urge all member countries to expedite their subscription and payment of their allocated shares to the AEB. Together, we can achieve remarkable advancements in our energy sectors and establish ourselves as a continental energy hub,” he stated.
The Africa Energy Bank represents a unified effort to support Africa’s long-term energy security, and Nigeria’s commitment as host nation underscores its dedication to fostering regional energy independence.
” With final preparations underway, Nigeria is poised to welcome the AEB, bringing the continent closer to a future where sustainable energy infrastructure is within reach for all.”
Lokpobiri has further called on global leaders and industry players on the need for strategic funding to enable Nigeria and Africa to harness their vast mineral resources and tackle persistent energy deficiencies.
According to Sen. Lokpobiri, with a well mobilized public and private capital, Nigeria and indeed, Africa’s transition will align with its development priorities.
Senator Heineken Lokpobiri Ph.D, who made this known as the just concluded World Economic Forum (#WEF25) in Davos, Switzerland, said though the establishment of the Africa Energy Bank, headquartered in Nigeria, as a significant step in bridging the funding gap, However, for greater international support, noting Africa’s minimal contribution of 3% to global emissions and stressing that the time for mere dialogue has passed”
Among issues discussed at the global meet were the Africa’s Momentum, which examined the impact of the African Union’s 2023 admission as a permanent member of the G20 and Africa’s push for a permanent seat on the UN Security Council.
Sen. Lokpobiri, who led the nation’s delegation, noted that “I had the privilege of participating in several of the sessions that convened global leaders and industry players to address critical global and regional challenges. These sessions provided a platform to engage on issues central to Africa’s development and the global energy transition.”
“One of the key discussions was Africa’s Momentum, which examined the impact of the African Union’s 2023 admission as a permanent member of the G20 and Africa’s push for a permanent seat on the UN Security Council. I contributed to this dialogue by emphasizing the need for strategic funding to enable Nigeria and Africa to harness their vast mineral resources and tackle persistent energy deficiencies.”
“In the session on Powering Progress: Financing the Energy Transition, I highlighted actionable solutions needed to unlock market forces and strengthen the business case for a global energy transition. We explored best practices for mobilizing public and private capital, emphasizing that Nigeria and indeed, Africa’s transition must align with its development priorities.”
“During the Leaders for a Sustainable MENA session, which focused on climate, AI, and finance in the MENA region – a grouping of Middle Eastern and North African countries – we discussed innovative partnerships and pathways for collaboration between international and regional stakeholders”
“. The insights shared were vital for integrating Nigeria and Africa as a whole into broader sustainability frameworks, while marketing Nigeria as an investment destination on the way to energy transition.”
“In the session on G20 and Africa’s Just Energy Transition, it was noted, the importance of South Africa’s G20 Presidency in advancing Africa’s energy priorities.”
” I underscored the establishment of the Africa Energy Bank, headquartered in Nigeria, as a significant step in bridging the funding gap. However, I called for greater international support, noting Africa’s minimal contribution of 3% to global emissions and stressing that the time for mere dialogue has passed.”
“As we look ahead, I urged that by the next #WEF26, our collective focus should be a review of executed actionable measures that drive visible growth in Nigeria, Africa, and globally. The foundation has been laid; now, it is time to build.”
Lokpobiri, who has shown capacity and leading the Nation’s charge to its leadership role in the Oil sector has also declared Nigeria as Africa’s strategic hub for energy investment.
Senator Lokpobiri, who made the declaration at the 8th Nigeria International Energy Summit (NIES 2025), affirmed that under the visionary leadership of President Bola Ahmed Tinubu, we are creating an investor-friendly environment through key reforms like the Petroleum Industry Act (PIA), business-enhancing Executive Orders, improved peace and security in the Niger Delta, and the launch of the Africa Energy Bank.
He told global investors that Nigeria is continually committed to unlocking the full potential of our upstream sector, recognizing it as the backbone of a thriving midstream and downstream industry.
According to him, “Our message was clear, Nigeria has embarked on strategic investments, not loans, to drive sustainable growth, Nigeria is ready and open for credible partnerships and We are focused on increasing production, guaranteeing energy prosperity, and powering our energy transition.”
“To our partners and investors — the time is now. Nigeria stands as Africa’s strategic hub for energy investments. Let’s build prosperity together.”
Pushing Local Content in Oil sector
Lokpobiri, in partnership with agencies of government and investors, have reiterated the importance of sustained investment in capacity building as a critical foundation for growth in Nigeria’s energy sector.
At the opening ceremony of the 2025 edition of the Nigeria Oil and Gas Energy Week #NOGEnergyWeek, held at the Bola Ahmed Tinubu International Conference Center (BATICC), Abuja, the Minister emphasized that the expectations of Nigerians are high, and the sector must rise to meet them.
“As a nation whose economy is deeply reliant on the performance of the energy sector, we must continue to prioritize capacity development. Sustaining investment in this area is non-negotiable if we must continue to grow,” the Minister stated.
Senator Lokpobiri noted the positive trajectory the sector is currently experiencing, particularly following the successful conclusion of various divestment deals.
He explained that these deals have catalyzed a fresh wave of investment, enabling indigenous companies to take the lead in asset development and operations.
“Our local content framework is clearly delivering on its mandate. The success of indigenous firms driving recent divestments is a clear indication to the progress we have made in building local capacity.”
While addressing the gathering of industry stakeholders and global players, the Minister urged all operators to ensure that every asset under their control is fully active and productive, in alignment with the directive of President Bola Ahmed Tinubu.
In the Ministerial Panel Session, Senator Lokpobiri focused on the urgent need for a sustainable energy mix that guarantees energy security. “We must drive strategic investments and divestments in a manner that enables us to meet both domestic demands and our international obligations,” he said.
THE Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has also identified the effective implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 as one of the key levers for actualizing the Renewed Hope Agenda of President Bola Tinubu’s administration.
Speaking during his tour of Nigerian Content Development and Monitoring Board, NCDMB facilities and projects in Bayelsa State, the Minister disclosed that the key mandates of the NCDMB, which are the promotion of in-country value addition in the oil and gas industry, incentivizing local manufacturing in the oil industry, development of human and material capacities and job creation are major pathways for meeting the key aspirations of the current administration.
He hailed the management of the Board for a sterling performance, highlighting the creation of the Nigerian Content Intervention Fund (NCI Fund) as one of the Board’s most impactful initiatives.
He noted that lack of access to affordable finance is one of the biggest challenges facing emerging players in the oil and gas sector, hinting that the NCI Fund which is administered by the Bank of Industry (BOI) will assist qualified oil and gas companies to access the capital they need to grow, build capacities, and create jobs.
Referencing the ongoing plans by some international oil companies to divest from onshore and shallow waters and move to deep and ultra-offshore operations, Senator Lokpobiri pointed out that indigenous companies have been able to step in and fill the openings courtesy of the systematic empowerment by the Board over the years.
He said: “Nigerian companies are doing very well today, courtesy of the capacity-building strategies that were institutionalized by the NCDMB in the past years.”
The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ph.D, has also lauded the Joint Venture (JV) between the Nigerian National Petroleum Corporation (NNPC), Caverton Offshore Support Group, and Stenabulk as a bold step toward enhancing shipping operations, strengthening local content, and driving economic growth through strategic industry alignment.
Speaking during a strategic engagement with the JV partners, Senator Lokpobiri emphasized the importance of cross-sector collaboration in achieving national profitability goals.
“For us to maximize expected profitability and deliver long-term value to the nation, every sector of the industry must be actively firm and aligned with one another,” the Minister stated.
He noted that the JV represents a practical example of the government’s local content aspirations becoming reality.
He expressed satisfaction with Caverton, an indigenous firm, in the partnership. “I am pleased to see a Nigerian company at the heart of this strategic partnership.
It is not only a reflection of our commitment to inclusive development but also ensures national participation – something that strongly aligns with our Local Content policy.
This initiative will boost the economy by ensuring revenue retention within our borders.”
Chief Operating Officer of Caverton Offshore Support Group, Mr. Olabode Makanjuola, affirmed the company’s readiness to deliver on the objectives of the joint venture.
“We are proud to be a part of this collaboration. Caverton brings a strong understanding of local operations and a firm commitment to demonstrating that indigenous capacity can deliver world-class results.”
Echoing the enthusiasm, General Manager of Stenabulk, Mr. Fredrik Eriksson, described the partnership as “a unique opportunity to merge international shipping expertise with local operational strength.
We are excited to collaborate with Caverton and NNPC to bring innovation and efficiency to the sector.”
Senator Lokpobiri commended NNPCL for their role in driving progress in the sector, and President Bola Ahmed Tinubu’s foresight and leadership, noting that such reforms and partnerships are already yielding measurable progress.
“This joint venture is a testament to the President’s vision. It reflects the kind of impact-driven collaboration that we believe will transform the energy sector and strengthen Nigeria’s economic position.”
Pushing for Host Community participation
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri has not left the host communities behind in the push for reforms and peace ramp up of oil production increase.
He took the message of the Niger Delta Communities that the Federal Government under
LOKPOBIRI: THE NATIONAL CZAR OF THE OIL SECTOR
While the phrase “Czar in the Nation’s Oil sector” is not an official title, it is often used informally to refer to the Minister of State for Petroleum Resources, Senator Heineken Lokpobiri PhD, who is playing a significant leadership role in Nigeria’s oil sector.
Since his assumption of office, the nation’s narrative within and outside the country has changed with high-level meetings and initiatives aimed at boosting production and attracting investment within the sector.
He has interpreted the reforms of the present administration of President Bola Tinubu into reality and such realities are beginning to change the oil sector policy of the present administration and transferring wealth and security to investors and Nigerians at alarge.
In less than two years, the nation’s oil sector has shown appreciable level of stability, increase in production capacity, increased participation of investors and the needed calm in the exploration activities in the Niger Delta region.
Nigeria’s crude oil output has recorded modest improvement with over 1.8million barrage per day recorded under the last administration of Mele Kyari. This according to experts is a positive trend in the oil sector.
The decision by the President, Bola Tinubu, to issue landmark executive order on cost efficiency in oil and gas sector has also largely set out targets for new investments, improved revenues and greater values for Nigerians.
Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri has attributed the decisive leadership style of President Bola Tinubu to the successes recorded with the increase in the the current production capacity to 1.8mbpd, inclusive of condensates.
According to Lokpobiri, the decisive leadership style of President Tinubu led administration also addressed the longstanding investment bottlenecks that had hindered the sector’s progress.
The Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, while speaking during the Inter-Ministerial/Energy Leadership Roundtable at #NIES2025, on the subtheme – “Catalyzing Global Investment: Policy Pathways to Unlock Africa’s Energy Potential.” ,said achieving a production increase from the 1mbpd we met upon resumption to the current 1.8mbpd, inclusive of condensates, would not have been possible without significant additional investments from industry players.
He said “I must extend profound appreciation to President Bola Ahmed Tinubu, whose decisive leadership swiftly addressed longstanding investment bottlenecks that had hindered the sector’s progress.”
“From the issuance of targeted Executive Orders to the full implementation of the Petroleum Industry Act (PIA) and full deregulation of the downstream sector, we have created an investment-friendly environment that continues to attract global and local capital into the energy sector.”
“Notably, Africa’s proactive establishment of the Africa Energy Bank has galvanized access to funding, empowering indigenous investors to compete favourably with International Oil Companies (IOCs) across all industry streams.”
” This momentum is projected to be sustained, ensuring long-term growth and resilience in Africa’s energy sector.”
The new oil policy direction of the Federal Government on boosting by deliberately building synergy with partners is already achieving true energy security.
Speaking at the 9th OPEC International Summit in Vienna, Sen. Lokpobiri insisted that the vision of the present administration of President Bola Tinubu is a journey that requires not only clear vision but deliberate, strategic engagements, both at home and abroad.
According to him,” In our drive to boost investment in Nigeria’s oil sector, building synergy with our partners and prospects remains critical to arriving at the space we desire in achieving true energy security.”
” It is a journey that requires not only clear vision but deliberate, strategic engagements, both at home and abroad.”
Lokpobiri also outlined the set down priority laid down under the Renewed Hope administration of President Bola Ahmed Tinubu, insisting that the Federal Government is prioritizing strategic investments in Nigeria’s oil sector.
According to Senator Heineken Lokpobiri, the investment is already building robust partnerships geared towards sustainable progress.
Sen. Heineken Lokpobiri Ph.D. also predicted that the efforts by the President Tinubu administration is guaranteeing national prosperity for Nigerians and mutual prosperity for our global investment partners.
Change from the past
Unlike past administrations, President Bola Tinubu, through the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri PhD also declared an end to the era where oil companies acquire field licenses and leave them dormant.
The minister issued the warning at the ongoing 2025 Nigeria Oil and Gas Energy Week in Abuja, as part of a renewed push to meet its OPEC production quota and 2025 budgetary targets.
The government warned that it will no longer tolerate operators lacking the technical and financial capacity to develop oil fields, stressing that such licenses will be withdrawn.
He said the government is determined to maximize oil production by ensuring that only serious investors retain access to Nigeria’s hydrocarbon resources.
Nigeria leading the charge for Global Financing and Energy Security
Already, the President Bola Tinubu’s reforms in the oil sector is already chatting the desired path where Nigeria is taking up the mantle of leadership as the giant of Africa in terms of global oil financing and advocate of energy security.
Senator Heineken Lokpobiri emphasized that Africa’s distinct approach to energy transition is one that prioritizes combating energy poverty while advancing sustainable development.
The minister stated this while attending the exclusive reception dinner hosted by the Embassy of the United Kingdom of Belgium in Nigeria ahead of this year’s Nigeria International Energy Summit (NIES).
Lokpobiri explained that because of the need for accessible energy solutions he invited investors to explore Nigeria’s oil sector, clarifying that “our focus is on securing investments, not loans, to drive mutual economic growth.”
He hinted that he also called for a globally inclusive energy transition framework that reflects Africa’s unique developmental challenges and ensures no region is marginalized in the global shift toward cleaner energy sources.
The Federal Government of Nigeria has also confirmed its readiness to host the headquarters of the Africa Energy Bank (AEB), following the country’s successful bid in July 2024.
Preparations are in top gear to ensure a seamless operational launch of the Bank in the first quarter of 2025, marking a significant milestone in Africa’s energy sector development.
At the 46th Ordinary Session of the Ministerial Council of the African Petroleum Producers’ Organization (APPO) held in Yaoundé, Cameroon, Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ph.D., reaffirmed Nigeria’s commitment to the Bank’s establishment.
While speaking to the Ministers of the 18 APPO member States, Lokpobiri expressed Nigeria’s enthusiasm for the project, stating, “We are prepared to host the Africa Energy Bank, and our dedication to enhancing funding for Africa’s energy sector remains unwavering.”
A cornerstone of the Bank’s mission is to bridge financing gaps within Africa’s oil and gas industry, facilitating advancements in energy infrastructure across the continent.
Lokpobiri emphasized that the Federal Government, under President Bola Ahmed Tinubu’s leadership, has taken significant steps to lay the groundwork for the Bank’s strategic objectives.
“Our commitment is underscored by Nigeria’s contribution of $69.1 million in equity funding to the Africa Energy Bank, which demonstrates our leadership role in supporting critical energy initiatives on the continent,” he noted.
Beyond financial contributions, Nigeria has also formally signed and ratified the AEB Establishment Agreement and Charter, a development that APPO has praised as a significant leap toward establishing the Bank.
With the Treaty now in effect, the legal and operational framework is set, paving the way for the AEB’s launch and enabling it to advance its objectives of enhancing energy security and promoting sustainable development across the continent.
Lokpobiri further called on other APPO member countries to join Nigeria in accelerating their financial commitments to the Bank. “I urge all member countries to expedite their subscription and payment of their allocated shares to the AEB. Together, we can achieve remarkable advancements in our energy sectors and establish ourselves as a continental energy hub,” he stated.
The Africa Energy Bank represents a unified effort to support Africa’s long-term energy security, and Nigeria’s commitment as host nation underscores its dedication to fostering regional energy independence.
” With final preparations underway, Nigeria is poised to welcome the AEB, bringing the continent closer to a future where sustainable energy infrastructure is within reach for all.”
Lokpobiri has further called on global leaders and industry players on the need for strategic funding to enable Nigeria and Africa to harness their vast mineral resources and tackle persistent energy deficiencies.
According to Sen. Lokpobiri, with a well mobilized public and private capital, Nigeria and indeed, Africa’s transition will align with its development priorities.
Senator Heineken Lokpobiri Ph.D, who made this known as the just concluded World Economic Forum (#WEF25) in Davos, Switzerland, said though the establishment of the Africa Energy Bank, headquartered in Nigeria, as a significant step in bridging the funding gap, However, for greater international support, noting Africa’s minimal contribution of 3% to global emissions and stressing that the time for mere dialogue has passed”
Among issues discussed at the global meet were the Africa’s Momentum, which examined the impact of the African Union’s 2023 admission as a permanent member of the G20 and Africa’s push for a permanent seat on the UN Security Council.
Sen. Lokpobiri, who led the nation’s delegation, noted that “I had the privilege of participating in several of the sessions that convened global leaders and industry players to address critical global and regional challenges. These sessions provided a platform to engage on issues central to Africa’s development and the global energy transition.”
“One of the key discussions was Africa’s Momentum, which examined the impact of the African Union’s 2023 admission as a permanent member of the G20 and Africa’s push for a permanent seat on the UN Security Council. I contributed to this dialogue by emphasizing the need for strategic funding to enable Nigeria and Africa to harness their vast mineral resources and tackle persistent energy deficiencies.”
“In the session on Powering Progress: Financing the Energy Transition, I highlighted actionable solutions needed to unlock market forces and strengthen the business case for a global energy transition. We explored best practices for mobilizing public and private capital, emphasizing that Nigeria and indeed, Africa’s transition must align with its development priorities.”
“During the Leaders for a Sustainable MENA session, which focused on climate, AI, and finance in the MENA region – a grouping of Middle Eastern and North African countries – we discussed innovative partnerships and pathways for collaboration between international and regional stakeholders”
“. The insights shared were vital for integrating Nigeria and Africa as a whole into broader sustainability frameworks, while marketing Nigeria as an investment destination on the way to energy transition.”
“In the session on G20 and Africa’s Just Energy Transition, it was noted, the importance of South Africa’s G20 Presidency in advancing Africa’s energy priorities.”
” I underscored the establishment of the Africa Energy Bank, headquartered in Nigeria, as a significant step in bridging the funding gap. However, I called for greater international support, noting Africa’s minimal contribution of 3% to global emissions and stressing that the time for mere dialogue has passed.”
“As we look ahead, I urged that by the next #WEF26, our collective focus should be a review of executed actionable measures that drive visible growth in Nigeria, Africa, and globally. The foundation has been laid; now, it is time to build.”
Lokpobiri, who has shown capacity and leading the Nation’s charge to its leadership role in the Oil sector has also declared Nigeria as Africa’s strategic hub for energy investment.
Senator Lokpobiri, who made the declaration at the 8th Nigeria International Energy Summit (NIES 2025), affirmed that under the visionary leadership of President Bola Ahmed Tinubu, we are creating an investor-friendly environment through key reforms like the Petroleum Industry Act (PIA), business-enhancing Executive Orders, improved peace and security in the Niger Delta, and the launch of the Africa Energy Bank.
He told global investors that Nigeria is continually committed to unlocking the full potential of our upstream sector, recognizing it as the backbone of a thriving midstream and downstream industry.
According to him, “Our message was clear, Nigeria has embarked on strategic investments, not loans, to drive sustainable growth, Nigeria is ready and open for credible partnerships and We are focused on increasing production, guaranteeing energy prosperity, and powering our energy transition.”
“To our partners and investors — the time is now. Nigeria stands as Africa’s strategic hub for energy investments. Let’s build prosperity together.”
Pushing Local Content in Oil sector
Lokpobiri, in partnership with agencies of government and investors, have reiterated the importance of sustained investment in capacity building as a critical foundation for growth in Nigeria’s energy sector.
At the opening ceremony of the 2025 edition of the Nigeria Oil and Gas Energy Week #NOGEnergyWeek, held at the Bola Ahmed Tinubu International Conference Center (BATICC), Abuja, the Minister emphasized that the expectations of Nigerians are high, and the sector must rise to meet them.
“As a nation whose economy is deeply reliant on the performance of the energy sector, we must continue to prioritize capacity development. Sustaining investment in this area is non-negotiable if we must continue to grow,” the Minister stated.
Senator Lokpobiri noted the positive trajectory the sector is currently experiencing, particularly following the successful conclusion of various divestment deals.
He explained that these deals have catalyzed a fresh wave of investment, enabling indigenous companies to take the lead in asset development and operations.
“Our local content framework is clearly delivering on its mandate. The success of indigenous firms driving recent divestments is a clear indication to the progress we have made in building local capacity.”
While addressing the gathering of industry stakeholders and global players, the Minister urged all operators to ensure that every asset under their control is fully active and productive, in alignment with the directive of President Bola Ahmed Tinubu.
In the Ministerial Panel Session, Senator Lokpobiri focused on the urgent need for a sustainable energy mix that guarantees energy security. “We must drive strategic investments and divestments in a manner that enables us to meet both domestic demands and our international obligations,” he said.
THE Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has also identified the effective implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 as one of the key levers for actualizing the Renewed Hope Agenda of President Bola Tinubu’s administration.
Speaking during his tour of Nigerian Content Development and Monitoring Board, NCDMB facilities and projects in Bayelsa State, the Minister disclosed that the key mandates of the NCDMB, which are the promotion of in-country value addition in the oil and gas industry, incentivizing local manufacturing in the oil industry, development of human and material capacities and job creation are major pathways for meeting the key aspirations of the current administration.
He hailed the management of the Board for a sterling performance, highlighting the creation of the Nigerian Content Intervention Fund (NCI Fund) as one of the Board’s most impactful initiatives.
He noted that lack of access to affordable finance is one of the biggest challenges facing emerging players in the oil and gas sector, hinting that the NCI Fund which is administered by the Bank of Industry (BOI) will assist qualified oil and gas companies to access the capital they need to grow, build capacities, and create jobs.
Referencing the ongoing plans by some international oil companies to divest from onshore and shallow waters and move to deep and ultra-offshore operations, Senator Lokpobiri pointed out that indigenous companies have been able to step in and fill the openings courtesy of the systematic empowerment by the Board over the years.
He said: “Nigerian companies are doing very well today, courtesy of the capacity-building strategies that were institutionalized by the NCDMB in the past years.”
The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ph.D, has also lauded the Joint Venture (JV) between the Nigerian National Petroleum Corporation (NNPC), Caverton Offshore Support Group, and Stenabulk as a bold step toward enhancing shipping operations, strengthening local content, and driving economic growth through strategic industry alignment.
Speaking during a strategic engagement with the JV partners, Senator Lokpobiri emphasized the importance of cross-sector collaboration in achieving national profitability goals.
“For us to maximize expected profitability and deliver long-term value to the nation, every sector of the industry must be actively firm and aligned with one another,” the Minister stated.
He noted that the JV represents a practical example of the government’s local content aspirations becoming reality.
He expressed satisfaction with Caverton, an indigenous firm, in the partnership. “I am pleased to see a Nigerian company at the heart of this strategic partnership.
It is not only a reflection of our commitment to inclusive development but also ensures national participation – something that strongly aligns with our Local Content policy.
This initiative will boost the economy by ensuring revenue retention within our borders.”
Chief Operating Officer of Caverton Offshore Support Group, Mr. Olabode Makanjuola, affirmed the company’s readiness to deliver on the objectives of the joint venture.
“We are proud to be a part of this collaboration. Caverton brings a strong understanding of local operations and a firm commitment to demonstrating that indigenous capacity can deliver world-class results.”
Echoing the enthusiasm, General Manager of Stenabulk, Mr. Fredrik Eriksson, described the partnership as “a unique opportunity to merge international shipping expertise with local operational strength.
We are excited to collaborate with Caverton and NNPC to bring innovation and efficiency to the sector.”
Senator Lokpobiri commended NNPCL for their role in driving progress in the sector, and President Bola Ahmed Tinubu’s foresight and leadership, noting that such reforms and partnerships are already yielding measurable progress.
“This joint venture is a testament to the President’s vision. It reflects the kind of impact-driven collaboration that we believe will transform the energy sector and strengthen Nigeria’s economic position.”
Pushing for Host Community participation
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri has not left the host communities behind in the push for reforms and peace ramp up of oil production increase.
He insisted that President Tinubu, remains committed to fostering the development of Host Communities.
According to him, the commitment is evident in the implementation of the PIA, ensuring that communities directly benefit from the resources generated in their region.
Host Communities (HostCom) must sustain peace and a conducive environment across the Niger Delta to continue benefiting from the Host Community Trust Fund provided by the Petroleum Industry Act (PIA).
Sen. Heineken Lokpobiri Ph.D., who made this known during the engagement with Host Communities at the KEFFESO Stakeholders Forum in Yenagoa, said it is critical stakeholders in Nigeria’s oil industry, HostComs must prioritize stability and the security of oil installations to maximize the opportunities presented by the Trust Fund.
He said “The Federal Government, under the leadership of President Bola Ahmed Tinubu, remains committed to fostering the development of Host Communities. This commitment is evident in the implementation of the PIA, ensuring that communities directly benefit from the resources generated in their region.”
“While commending the Host Communities for their cooperation, which has contributed significantly to the peace currently enjoyed in the region hence, the increase in production, I highlighted that sustaining this progress is vital to ensuring long-term prosperity because, a secured and stable environment will not only guarantee continuous access to development funds but will also attract further investments that can drive growth and improve livelihoods”