The Nigerian government is actively seeking to attract international oil investment, with the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, stating that a stable regulatory environment makes the country a premier destination.
Speaking at the CERAWeek by S&P Global conference in Houston, Texas, Lokpobiri emphasized that Nigeria’s crude oil grade is among the best in the world. He revealed that his ministry has held direct discussions with major International Oil Companies (IOCs), including Shell, Chevron, Total, Eni, and ExxonMobil. “All of them have made commitments to say… when they are prioritizing investment destinations, Nigeria will be the preferred destination,” he told Channels Television.
The minister’s pitch centres on a decade-plus record of stability in Nigeria’s upstream sector. “For the past 15 years or more, Nigeria hasn’t experienced any upstream disruption,” he asserted, contrasting this with perceptions that previously diverted investment elsewhere. He highlighted current reforms, fiscal clarity, and a stable legal framework as key incentives, positioning Nigeria as a secure alternative amid global energy volatility.
This diplomatic effort forms part of a coordinated strategy under President Bola Ahmed Tinubu’s administration to revive the oil and gas sector. Lokpobiri confirmed the delegation’s core message at CERAWeek was that “Nigeria is ready for investment.” Follow-up bilateral meetings with companies like Chevron and ENI reinforced the call to invest in a location where security and policy are assured.
The outreach aims to reposition Nigeria within a global push for diversified energy investment sources, particularly as traditional hubs face uncertainty. By promoting its regulatory reforms and high-quality crude, Nigeria is framing itself as a reliable partner for long-term energy security. The government’s success in converting these expressed IOC commitments into tangible project investments will be the critical next step in this renewed engagement.
