The Minister of State for Petroleum Resources (Petroleum), Heineken Lokpobiri, has asked global investors to take advantage of emerging opportunities in the oil sector that transforms Nigeria quickly by citing strong reforms, improved production capacity and regional influence as key growth promoters.
A statement signed by the media and the communication of the SA to the minister, Nneamaka Okafor, and made available to Tribune Online, Lokpobiri said the comments made by delivering a key comment in the session of the oil sector of the United States Council in the United States on the collaboration of the oil sector, regardless of the policy of the General Assembly of the United Nations ongoing (UNGA) in the fion of the country’s renewal policy.
Lokpobiri said: “In the heart of the Nigerian renewed energy agenda there is a clear and deliberate policy address: opening our oil sector to deeper, more intelligent and more strategic associations,” said the minister. “The time to invest is not just now, it is mature.
“Remember that for more than ten years, before the arrival of President Bola Ahmed Tinubu, Nigeria had no new investment in the oil sector, but with the reforms that we have carried out, which have created an atmosphere that is globally competitive and attractive, now we have new investments that are executed in thousands of dollars.”
“All inactive blocks during the non -investment period are now and are at stake. We have a long data relationship with US and American companies, beyond these relations, there are new opportunities for new investors, both in the upstream sector and in other sectors.”
The minister added that, under the leadership of President Bola Ahmed Tinubu, Nigeria’s oil sector has witnessed significant progress in the last two years, including the increase in production production and a more attractive investment climate.
“Thanks to bold reforms and competitive prosecutors globally, Nigeria has significantly increased production and has been repositioned as a reliable energy center in Western Africa and the continent,” he said.
Lokpobiri attributed the transformation to the successful implementation of the Petroleum Industry Law (PIA), which described as a “robust and friendly legal framework with investors” that is promoting growth and restoring investor confidence.
He also emphasized Nigeria’s commitment to energy transition efforts that claim that the country would continue to take advantage of its fossil fuel reserves to finance its combination of energy while adheres to international climate agreements.
“We are completely aligned with the Paris Agreement and we continue committed to a cleaner and more sustainable exploration. Our doors are open, our laws are clear and our environment is conducive. Now it is time for global investors and investors to be part of Nigeria’s energy success history,” Lokpobiri concluded.
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