By Ayobamiji Komolafe,Regina Otokpa
Copyright newtelegraphng
The Federal Government has called on global investors to take advantage of new opportunities in Nigeria’s reformed oil sector, citing bold reforms, improved production capacity, and a conducive investment climate as key attractions.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made the call in New York during a keynote address at the United States–Nigeria Council’s session on oil sector collaboration, held on the sidelines of the ongoing United Nations General Assembly (UNGA) 2025.
Lokpobiri said Nigeria’s energy agenda is anchored on opening up the oil sector to smarter, deeper, and more strategic partnerships.
“At the heart of Nigeria’s renewed energy agenda is a clear and deliberate policy direction: to open our oil sector to deeper, smarter, and more strategic partnerships. The time to invest is not just now, it is ripe,” he stated.
The Minister recalled that for more than a decade before the administration of President Bola Ahmed Tinubu, the country witnessed no new oil investments. He stressed that reforms introduced by the Tinubu government had reversed the trend, creating a globally competitive environment that has already attracted multi-billion-dollar investments.
“All inactive blocks during the period of no investments are now in the basket and up for grabs. We have a longstanding relationship with U.S. companies, but beyond these, there are new opportunities for investors in both the upstream and other sectors,” he said.
Lokpobiri explained that under President Tinubu’s leadership, the oil sector has seen a boost in production and repositioned itself as a dependable energy hub in West Africa.
He attributed this transformation to the effective implementation of the Petroleum Industry Act (PIA), which he described as a robust, investor-friendly legal framework that has restored investor confidence.
The Minister also assured that Nigeria remains committed to energy transition efforts while leveraging fossil fuel reserves to fund its energy mix, in line with international climate agreements.
“We are fully aligned with the Paris Agreement and remain committed to cleaner, more sustainable exploration. Our doors are open, our laws are clear, and our environment is conducive, now is the time for U.S. and global investors to become part of Nigeria’s energy success story,” Lokpobiri added.
