Nigeria Urges Global Investment in Oil and Gas Resources
Minister Heineken Lokpobiri called for international investment in Nigeria's energy sector during the 25th World Petroleum Congress in Riyadh.
Minister of State for Petroleum Resources (Oil) Heineken Lokpobiri urged international investors to utilize Nigeria's oil and gas resources to drive long-term growth during the 25th World Petroleum Congress in Riyadh. Chairing the investment forum titled Nigeria – The New Energy Investment Frontier, Lokpobiri highlighted the country's official reserves as of January 2026, which include approximately 37 billion barrels of oil and condensate and 215 trillion cubic feet of natural gas.
Lokpobiri identified the Petroleum Industry Act 2021 as a primary tool for increasing investor confidence and providing regulatory clarity. He called for the expansion of gas-processing and domestic refining capacity to bolster power generation and local manufacturing. He stated that energy security and a diversified energy mix must be pursued together through capital investment and strategic partnerships.
