Nigeria has recently made previously dormant oil blocks available to investors, minister-on-shettima-snub-claims-for-2027/” title=”'Only Tinubu can choose his running mate' — … on Shettima ‘snub’ claims for 2027″>nigeria-cracks-down-terrorism-financiers-cds-musa/” title=”CDS Musa: …n Government Intensifies Hunt for Terrorism Financiers”>actively pursuing more profound and strategic collaborations with international partners to restart production on these assets.
During a keynote speech at the United States-Nigeria Council’s oil sector collaboration session held at the United Nations General Assembly 2025 in New York, Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), emphasized this initiative.
He reflected on the decade-long stagnation in new oil sector investments prior to President Bola Ahmed Tinubu’s administration.
Nonetheless, the minister highlighted that recent reforms have fostered a globally competitive and appealing environment, noting, “We are now witnessing fresh investments amounting to billions of dollars.”
Senator Lokpobiri stated, “All previously inactive blocks during the investment drought are now available and open for acquisition.”
He encouraged investors to seize this exceptional opportunity without delay.
Further elaborating, the minister described the government’s revitalized approach: “Central to Nigeria’s renewed energy strategy is a deliberate and transparent policy aimed at welcoming deeper, smarter, and more strategic partnerships. The moment to invest is not just timely-it is ideal.”
He also underscored Nigeria’s enhanced production capabilities: “Owing to decisive reforms and competitive fiscal policies, Nigeria has substantially increased its output and repositioned itself as a reliable energy hub within West Africa and across the continent.”
The Petroleum Industry Act (PIA) was credited for this resurgence, with Senator Lokpobiri calling it a “strong, investor-friendly legal framework” that has “reinstated investor confidence” and is “propelling industry growth.”
On the topic of Nigeria’s commitment to energy transition, the minister reassured that the nation remains in harmony with global sustainability goals: “We fully support the Paris Agreement and are dedicated to cleaner, more sustainable exploration practices. Our regulatory environment is transparent, our policies are clear, and our investment climate is favorable-now is the perfect time for U.S. and international investors to join Nigeria’s energy advancement.”
These statements underscore Nigeria’s ongoing drive under President Tinubu’s leadership to attract foreign capital and solidify its role as a pivotal player in the global oil industry.
