
Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, says the country has ended a 10-year freeze in oil investments, citing reforms under President Bola Tinubu’s administration. Speaking at the U.S.–Nigeria Council’s oil sector session during the UN General Assembly, Lokpobiri said past stagnation crippled growth and investor confidence, but new policies are now attracting global energy players
Lokpobiri pointed out that for more than a decade before President Tinubu assumed office, Nigeria saw no new investments in its oil industry.He added that the situation has now changed, with fresh pledges worth billions of dollars pouring in.
The minister emphasized that Nigeria’s ongoing reforms are boosting local production while also establishing the nation as a reliable energy hub for West Africa and the wider continent.He called on international investors to tap into the opportunities within Nigeria’s fast-evolving oil and gas sector, emphasizing that its progress would not only drive regional stability but also strengthen global energy security.