Nigeria has invited international investors to explore fresh opportunities in its oil sector, following bold reforms aimed at boosting production and creating a competitive business environment.
Speaking at the United States, Nigeria Council’s session on oil sector collaboration, held on the sidelines of the United Nations General Assembly (UNGA) in New York, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, highlighted the country’s renewed focus, expanded capacity, and regional influence as major growth drivers.
According to the Minister, the successful implementation of the Petroleum Industry Act (PIA) under President Bola Tinubu’s administration has repositioned Nigeria as a dependable energy hub.
“Thanks to bold reforms and globally competitive fiscals, Nigeria has significantly ramped up production and restored investor confidence,” he said.
Lokpobiri emphasized Nigeria’s commitment to both energy security and the global energy transition, noting that fossil fuel revenues would be used to finance a diversified energy mix while remaining aligned with the Paris Agreement.
“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,” he added.
Written by Rabo Bako