Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), has said that Nigeria is unveiling multi-billion-dollar investment opportunities in local content across the oil and gas value chain.
Lokpobiri disclosed this in his keynote address at the ongoing 2025 Nigerian Oil and Gas Opportunity Fair (NOGOF) in Bayelsa.
He reaffirmed the government’s commitment to leveraging local content as a strategic tool for industrialisation, innovation, and inclusive economic growth in Nigeria.
Lokpobiri noted that the Nigerian Content Intervention Fund, managed by the Bank of Industry (BoI), has been disbursing single-digit interest loans to several local companies to spur growth.
According to him, President Bola Ahmed Tinubu envisions a Nigerian oil and gas sector that is a reference point in Africa and globally.
He stressed that Nigeria’s local content is the backbone of Africa’s oil and gas sector, warning that if Nigeria fails, the continent would be heavily impacted.
“The fund has helped indigenous businesses scale operations and deliver value across the sector for the betterment of all of us,” he noted.
“We are unveiling multi-billion-dollar investment opportunities across the upstream, midstream, and downstream value chains — including crude oil processing, marginal field development, refining, construction, logistics, and more — all anchored in local content.
“If Nigerian content fails, Africa fails. What Nigeria cannot do, Africa cannot do.
“When we talk about African local content, we must be referring to Nigerian local content. We must lead by design.
“We cannot afford to fail. If Nigerian content fails, the entire continent fails with it,” Lokpobiri stated.
