Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri has reaffirmed the government’s commitment to making Nigeria an attractive destination for investors while encouraging deeper investment in the petroleum sector.
In a statement via his X handle, Lokpobiri said the remarks were made during an inspection of the NNPCL/Chevron Joint Venture EGTL facility in Escravos, Delta State.
He highlighted the need for operators to ramp up production to meet both domestic and international energy obligations.
“We will continue to provide incentives that ensure Nigeria remains an attractive destination for investors,” he stated, noting that fossil fuels will remain relevant for the foreseeable future, even as the government advocates for cleaner and greener exploration.
Lokpobiri described the EGTL project as a commendable example, as it significantly reduces emissions while contributing to economic growth.
While commending the joint venture, he urged other operators to explore all avenues to increase production, including farming out unused assets to those with the financial capacity to utilize them effectively.
He also stressed the government’s right to enforce the “drill or drop” provision under the Petroleum Industry Act (PIA) to maximize sector potential responsibly.
“Whilst encouraging responsible operations, we remain committed to creating an enabling environment for investors to thrive and grow our energy sector,” Lokpobiri added.
