UNGA 2025: Nigeria calls on global investors to tap into reformed oil sector

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called connected planetary investors to prehend emerging opportunities successful Nigeria’s rapidly transforming lipid sector, citing beardown reforms, enhanced accumulation capacity, and determination power arsenic cardinal drivers of growth.

Speaking during a keynote remark astatine the United States–Nigeria Council’s league connected lipid assemblage collaboration, held connected the sidelines of the ongoing United Nations General Assembly (UNGA) 2025 successful New York, Senator Lokpobiri highlighted the country’s renewed argumentation absorption and expanding marketplace potential.

“At the bosom of Nigeria’s renewed vigor docket is simply a wide and deliberate argumentation direction: to unfastened our lipid assemblage to deeper, smarter, and much strategical partnerships,” the Minister stated. “The clip to put is not conscionable present — it is ripe.”

“Recall that for implicit 10 years, anterior to the coming of President Bola Ahmed Tinubu, Nigeria did not person immoderate caller concern successful the lipid assemblage but with the reforms we person carried out, which person created an ambiance that is globally competitory and attractive, we present person caller investments moving into billions of dollars”, the Minister added.

“All inactive blocks during the play of nary investments, are successful the handbasket present and up for grabs. We person longstanding narration with US and US companies, beyond these relationships, determination are caller opportunities for caller investors, some successful the upstream assemblage and different sectors.”

The Minister noted, In connection signed by the Special Adviser connected Media and Communication to the Minister, Nneamaka Okafor, that, nether the enactment of President Bola Ahmed Tinubu, Nigeria’s lipid assemblage has witnessed important advancement implicit the past 2 years, including accrued accumulation output and a much charismatic concern climate.

“Thanks to bold reforms and globally competitory fiscals, Nigeria has importantly ramped up accumulation and repositioned itself arsenic a dependable vigor hub crossed West Africa and the continent,” helium said.

Senator Lokpobiri attributed this translation to the palmy implementation of the Petroleum Industry Act (PIA), which helium described arsenic a “robust, investor-friendly ineligible framework” that is driving maturation and restoring capitalist confidence.

He besides emphasized Nigeria’s committedness to vigor modulation efforts, affirming that the state would proceed to leverage its fossil substance reserves to concern its vigor mix, portion adhering to planetary clime agreements.

“We are afloat aligned with the Paris Agreement, and stay committed to cleaner, much sustainable exploration,” helium said. “Our doors are open, our laws are clear, and our situation is conducive — present is the clip for U.S. and planetary investors to go portion of Nigeria’s vigor occurrence story.”

The station UNGA 2025: Nigeria calls connected planetary investors to pat into reformed lipid sector appeared archetypal connected Vanguard News.