01/07/2025
To sustain growth in our oil industry, we must first sustain our investment in capacity building. The recent wave of asset divestments and the subsequent increase in production volumes underscore a critical truth: we have the indigenous capacity to grow this industry.
I emphasized this point while declaring open the , where I posed a central question to operators: What is the solution to ramping up production? This is not just a rhetorical challenge, it is a call to action, one that speaks to our collective responsibility in meeting both domestic energy needs and international commitments.
In my address, I urged all operators to ensure every asset under them is active and productive. This is not a suggestion but a directive from President Bola Ahmed Tinubu, and it must be treated with the urgency and gravity it deserves.
Therefore, I called on all stakeholders to embrace a new mindset, one that is value-driven and innovation-led. We must do something new, something bold, something that directly translates to increased production.
With Nigeria now having met both her legal and financial obligations for the commencement of the African Energy Bank (AEB), we stand at the threshold of improved access to funding for investors and operators alike. This new financing window is expected to catalyze robust economic growth, not just for the energy sector, but for our nation as a whole.
Sen. Heineken Lokpobiri Ph.D.
