Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has renewed calls for greater local participation in Nigeria’s oil and gas sector. During an energy forum in Lagos, he encouraged Nigerians to seize emerging opportunities by acquiring the onshore assets currently being divested by International Oil Companies (IOCs). At the event, he addressed key industry stakeholders with a clear message.
He stressed that Nigerian investors must show boldness and capacity in this transition period. The transfer of IOCs’ onshore assets, he said, should not be dominated by foreign interests. According to him, this is a golden opportunity for indigenous companies to lead and reshape the future of the country’s oil industry.
Lokpobiri promotes Nigerian ownership of oil assets with strong conviction. Local investment, he explained, strengthens energy security and helps keep value within the country. He believes Nigerians have the technical expertise and financial ability to manage these assets efficiently.
The minister also emphasized the role of government in creating an environment where local firms can thrive. He assured stakeholders that the federal government will continue to support indigenous participation through enabling policies and reforms. These include regulatory stability, fiscal incentives, and access to capital.
Lokpobiri explained that the Petroleum Industry Act (PIA) offers a framework that encourages fairness and transparency. This legal foundation, he said, provides confidence for local players and helps ensure sustainable development. He also noted that when Nigerians take charge of oil assets, it increases employment and spurs growth in other sectors.
He stated that the divestment by IOCs should be viewed as a positive development rather than a retreat. The future of Nigeria’s oil and gas, Lokpobiri believes, lies in the hands of its own people. He urged banks and investors to back local firms with financing and technical support.
The minister also highlighted the importance of collaboration between government and the private sector. Long-term national interest must guide all investments, he added. This shift in asset ownership, he said, would boost community engagement and reduce conflict in host regions.
Lokpobiri promotes Nigerian ownership of oil assets with strategic intent. His goal is to localize value chains, improve resource management, and position Nigeria as a leader in African energy. He encouraged training and mentorship programs to build a stronger local workforce and ensure operational excellence.
Stakeholders at the forum welcomed the minister’s position and agreed that a local-first approach is critical. Many praised his commitment to driving indigenous growth and unlocking opportunities for homegrown companies.
By championing Nigerian involvement, Heineken Lokpobiri is shaping a more inclusive and resilient energy sector. His approach blends national interest with private sector strength, and this balance is vital for the country’s progress. His leadership signals a strong shift toward economic empowerment through local ownership and strategic investment.
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