Nigeria’s Energy Reforms Continue To Attract Investments — Lokpobiri
The Federal Government’s ongoing reforms in Nigeria’s oil and gas sector are strengthening policy predictability, improving regulatory certainty and creating a more competitive investment environment capable of attracting sustainable capital into the industry, the Minister of State for Petroleum Resources (Oil) has said.
The Minister stated this at the Final Investment Decision (FID) ceremony for the $600 million IMA Gas Development Project, a Joint Venture (JV) between AMNI International Petroleum Development Company Limited and TotalEnergies EP Nigeria Limited.
He described the FID as a significant milestone for Nigeria’s energy sector and a demonstration of continued investor confidence in the country’s oil and gas industry. According to him, the project further reinforces the attractiveness of Nigeria as a destination for energy investments.
“From predictable policy formulation to regulatory certainty, President Bola Ahmed Tinubu’s administration continues to create a profitable investment climate, driving more capital into Nigeria’s energy industry,” the Minister said.
A release by Nneamaka Okafor, Media and Communications aide to the Minister of State for Petroleum Resources (Oil), says Lokpobiri noted that the Federal Government’s #RenewedHope reforms, alongside incentives introduced to stimulate investment, are designed to unlock capital, accelerate project development, increase production, and strengthen the overall value chain.
The Minister further emphasised that “Nigeria’s energy sector remains competitive and open for investors,” adding that sustained collaboration between government and industry remains critical to delivering the investments required to maximise the country’s energy potential.
“With the #RenewedHope reforms in the sector and the incentives that have been injected into the industry, Nigerians expect more prompt Final Investment Decisions in reciprocity,” he said.
While commending AMNI International Petroleum Development Company Limited and TotalEnergies EP Nigeria Limited for reaching the FID milestone, the Minister called for more investment commitments and Final Investment Decisions across the sector.
He said such investments would deepen domestic energy production, enhance energy security, create jobs, promote economic growth, and further position Nigeria as a competitive destination for investment in the global energy industry.