Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri

Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has affirmed that the sweeping legal and regulatory reforms introduced by President Bola Ahmed Tinubu’s administration have laid a solid foundation for energy sector investment in Nigeria.

Speaking during the Ministerial Session of the 9th OPEC International Seminar in Vienna, Lokpobiri urged the international community, especially countries in the Global North, to recognise Africa’s critical role in the global energy equation and unlock investment opportunities to drive development across the continent.

Delivering a keynote on the theme “Oil Markets: Energy Security, Growth, and Prosperity,” the minister emphasised the urgent need for equitable investment across regions, noting that Africa has often been sidelined in global energy conversations despite facing some of the world’s most severe energy access challenges.

“For Africa to truly be part of the global energy journey, there is an urgent need to allow and encourage investments into the continent,” Lokpobiri said in a statement issued by his Special Adviser on Media and Communication, Nneamaka Okafor.

He described it as a paradox that Africa is routinely excluded from global energy strategies, even though it bears a disproportionate share of the consequences of energy poverty.

Lokpobiri cited Nigeria’s recent progress as a case study for the continent, highlighting reforms undertaken by the Tinubu administration that have restructured and stabilised the oil and gas sector, attracting renewed investor interest.

“President Tinubu’s administration has undertaken significant legal and regulatory reforms that now offer a strong foundation for energy sector investment,” he said.

He added that Nigeria possesses vast capacity across the oil and gas value chain, particularly in refining, but needs increased capital injection in the upstream, midstream, and downstream sectors to realise its full potential.

“Our capacity not only serves domestic needs but also supports the wider West African region, which depends heavily on Nigeria,” Lokpobiri stated.

He called on the Global North to support Africa’s inclusion in the global energy transition, stressing that the continent must not be left behind if a sustainable and inclusive energy future is to be achieved.

“Africa must be seen as part of the world. We need to develop to contribute meaningfully to the global energy shift, and that can only happen if investors are allowed and encouraged to enter the African energy space,” he concluded.

Lokpobiri’s remarks were well received at the seminar, where he reaffirmed Nigeria’s commitment to leading regional collaboration and fostering investment-driven growth in Africa’s energy sector.