Lokpobiri seeks regional energy integration to cut $120bn import bill

By Obas Esiedesa, Abuja

Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called for deeper determination integration to code Africa’s yearly $120 cardinal vigor import bill.

Speaking astatine the Africa Oil Week (AOW) 2025 Ministerial and CEO Leadership Forum successful Accra, Ghana, Lokpobiri said integration remains the astir effectual strategy to extremity vigor poorness connected the continent.

In a connection issued by his media aide, Nneamaka Okafor, the Minister stressed that shared infrastructure, harmonized standards, and method expertise would unafraid Africa’s vigor future.

He lamented the continent’s dense reliance connected hydrocarbon imports, describing it arsenic superior flight.

“These funds should stay wrong Africa to substance our ain improvement priorities,” Lokpobiri said.

He noted that the existent situation was not entree to superior but the lack of aligned regulatory frameworks and fiscal regimes crossed African countries.

“Investors marque semipermanent decisions based connected stableness and predictability. Africa indispensable harmonize its policies to pull and clasp investment,” helium added.

As portion of Nigeria’s enactment drive, Lokpobiri announced the instauration of a West African Reference Market (WARM)—an inaugural to leverage Nigeria’s increasing refining capableness to proviso petroleum products crossed West Africa and beyond.

On the planetary vigor transition, helium clarified that the Paris Agreement does not necessitate abandoning fossil fuels but alternatively reducing emissions.

“Africa contributes lone 3% of planetary CO₂. We cannot pb an vigor modulation erstwhile we don’t adjacent person energy. Our precedence indispensable beryllium to responsibly harness our abundant resources to powerfulness growth,” helium said.

Lokpobiri concluded by urging African nations to unite astir a shared vision: “Africa has the market, the population, and the resources. What we request present is to support worth wrong our continent and concern our ain vigor future.”

The station Lokpobiri seeks determination vigor integration to chopped $120bn import bill appeared archetypal connected Vanguard News.