Lokpobiri woos global investors, seeks stronger partnerships to unlock Nigeria’s petroleum potential

Nigeria has called for stronger international partnerships and increased investment in its petroleum industry as part of efforts to strengthen energy security, boost industrialisation and accelerate economic growth. The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made the call while speaking at the Ministerial Leadership Roundtable at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), which focused on energy supply and industrial competitiveness.

Lokpobiri, in a statement signed by his Special Adviser on media, said Nigeria remained committed to strategic global partnerships, noting that sustained investments, advanced technology and international expertise were essential to unlocking the country’s vast petroleum resources. He assured potential investors, technology providers and financial institutions of Nigeria’s readiness to create an enabling environment for mutually beneficial partnerships and greater participation in the country’s oil and gas industry.

“Nigeria’s commitment to collaboration and strategic partnerships remains sacrosanct. We recognise that developing our petroleum resources and translating our reserves into economic prosperity require sustained investment, technology, expertise and mutually beneficial partnerships. We will therefore continue to drive investment into the sector,” he said.

Lokpobiri noted that stronger international cooperation had become increasingly important in addressing emerging challenges in the global energy landscape, mitigating potential supply disruptions and preventing developments capable of triggering wider energy and economic crises. The minister also highlighted Nigeria’s determination to harness its petroleum resources to accelerate industrialisation through increased crude oil production, expansion of domestic refining capacity, petrochemical development, gas commercialisation and infrastructure expansion.

He identified Nigeria’s geographical advantage, substantial petroleum reserves and strategic location along the Gulf of Guinea as opportunities to strengthen the country’s role in regional petroleum supply, energy trade and industrial development. According to him, the Federal Government’s ultimate objective is to transform Nigeria’s petroleum resources into tangible economic benefits through reliable energy supply, industrial competitiveness, employment generation and sustainable economic growth.

Lokpobiri reiterated that sustained investment, technology transfer and mutually beneficial international partnerships would remain central to unlocking Nigeria’s petroleum potential and positioning the country as a competitive destination for global energy investments.