The Nigerian Minister of State for Petroleum Oil, Sen. Heineken Lokpobiri has reiterated the presidential directives to ramp up crude oil production as a sustainable policy of the present administration of President Ahmed Bola Tinubu.  

This tenacious stand of the current administration was reechoed by the minister’s featuring at the ongoing Nigeria International Energy Summit 2025 during the Inter-Ministerial/Energy Leadership Roundtable with the subtheme “Catalyzing Global Investment: Policy Pathways to Unlock Africa’s Energy Potential”.

According to the Minister, Nigeria’s current crude oil production level could not have been achievable without the resilient and indefatigable efforts of the present administration and the visionary leadership of President Ahmed Bola Tinubu.

 “Achieving a production increase from the 1mbpd we met upon resumption to the current 1.8mbpd, inclusive of condensates, would not have been possible without significant additional investments from industry players. I must extend profound appreciation to President Bola Ahmed Tinubu, whose decisive leadership swiftly addressed longstanding investment bottlenecks that had hindered the sector’s progress.

Sen. Lokpobiri further stated that the passionate patriotism of President Tinubu on the economic wellbeing of the Nigerian state led to his issuance of targeted Executive Orders and Presidential directives in the Nigerian energy sector, and these have invariably restored investment confidence on the International Oil Companies, indigenous contractors and international foreign investors.

“From the issuance of targeted Executive Orders to the full implementation of the Petroleum Industry Act (PIA) and full deregulation of the downstream sector, we have created an investment-friendly environment that continues to attract global and local capital into the energy sector”. Senator Lokpobiri said.

On the establishment of Africa Energy Bank, the Honorable Minister of State for Petroleum Oil noted that its existence will restore favourable financial enablement for African indigenous contractors to flex their financial muscles and expertise along with their International Oil Companies counterparts in timely energy project executions

“Notably, Africa’s proactive establishment of the Africa Energy Bank has galvanized access to funding, empowering indigenous investors to compete favourably with International Oil Companies (IOCs) across all industry streams. This momentum is projected to be sustained, ensuring long-term growth and resilience in Africa’s energy sector”. Lokpobiri added.

The 8th edition of the Nigeria International Energy Summit in Abuja has entered its third day today with prominent global energy stakeholders in attendance.