Nigeria’s Federal Government has intensified efforts to attract foreign investment into the oil sector, highlighting the country’s crude oil as among the best globally.
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, made the appeal while speaking at the CERAWeek by S&P Global conference in Houston, Texas, United States.
He said recent government policies have created a more stable and attractive investment climate.
Lokpobiri noted that engagements have already been held with leading international oil firms, including Shell, Chevron, TotalEnergies, Eni and ExxonMobil.
According to him, these companies have shown renewed interest in Nigeria as a preferred investment destination.
He emphasised that Nigeria’s crude oil stands out for its quality, adding that the country is well-positioned to benefit from shifting global energy dynamics.
The minister also pointed to improved stability in the upstream sector, stating that Nigeria has not experienced any major disruption in oil production activities for over a decade.
This, he said, reflects the success of reforms aimed at ensuring regulatory clarity and operational certainty.
He acknowledged that in the past, Nigeria struggled to attract investment, with many firms opting for other regions.
He however, maintained that ongoing fiscal and legal reforms have repositioned the country as a competitive and secure destination for energy investments.
Lokpobiri further explained that Nigeria’s participation at the global conference was aimed at promoting the country as a viable alternative for investors seeking stability amid uncertainties in other oil-producing regions.
He added that discussions at the event also focused on the need for diversified global investment locations to ensure energy supply stability, particularly in light of geopolitical tensions affecting traditional oil hubs.
The minister revealed that bilateral meetings were held with several companies during the conference, reiterating Nigeria’s readiness to welcome new investments and strengthen existing partnerships.
According to him, the reforms introduced under President Bola Tinubu have begun to restore investor confidence, with indications that previously stalled investments are gradually returning.
He assured potential investors that Nigeria now offers a more predictable business environment, backed by improved policies, legal frameworks, and a commitment to sustaining growth in both the upstream and downstream sectors.
