President Bola Tinubu,says the reforms in the energy sector is manifesting with operationalization of local refining, landmark projects like the Dangote Refinery, and the sale of crude oil in Naira to enhance local refineries’ competitiveness.
He spoke on Tuesday during the opening ceremony of Nigerian International Energy Summit (NIES) 2025).
The summit, themed “Bridging Continents: Connecting Investors Worldwide with Africa’s Energy Potential,” aims to attract global investments and strategic partnerships to unlock Africa’s vast energy resources
Represented by the Minister of State, Finance, Dr. Doris Uzoka-Anite, the President declared that Nigeria is positioned as a global energy powerhouse with opportunities in oil and gas exploration, renewable energy, and domestic refining.
The summit, themed “Bridging Continents: Connecting Investors Worldwide with Africa’s Energy Potential,” aims to attract global investments and strategic partnerships to unlock Africa’s vast energy resources.
According to him, the removal of fuel subsidies and foreign exchange revitalization have liberalized the economy, making it an attractive investment destination, adding that going forward the Federal Government would focus on sustainable development, energy security, and industrialization to create jobs and prosperity for Nigerians.
He said that Nigeria is developing a hydrogen policy to integrate both blue and green hydrogen into the energy mix, leveraging natural resources and strategic geography.
He added:”Here in Nigeria, we are actively developing a hydrogen policy to attract investors and integrate hydrogen in our energy mix. We have unveiled the hydrogen development agenda, committed to creating a unified national hydrogen policy.
“This policy aims to harness the potential of both blue and green hydrogen, leveraging our abundant natural resources and strategic geographic position. I therefore encourage you to be a part of our hydrogen journey. Critical energy minerals.
“Finally, this is a key sector to the economic growth of our nation and we are committed to its rapid development. Our large deposits of copper, lithium, nickel, cobalt and rare earth minerals, which are all very critical for clean energy technologies, present investors with significant investment opportunities. We will also build local refining capacities for these resources to ensure more value addition and more revenue to the country” he said.
Heineken Lokpobiri, the Minister of State Petroleum Resources (Oil), disclosed that talks underway for a whopping $20 billion injection into the oil and gas sector.
He explained that the development is a significant turnaround for Nigeria, which had previously struggled to attract investments due to pending divestments and restrictive policies.
“And let me use the opportunity to also say that, a lot more groundbreaking announcements are coming in the next few months. We are talking with company that will announce investment of $20 billion. So for me, the government has changed the entire narrative.
“However, with the current administration’s business-friendly approach, the narrative is changing.
“Nigeria is now open for business, with a willingness to allow investors to come and go as they please. This shift in policy is expected to create a more favorable investment climate, attracting more foreign investors to the country”, he said.
Minister of State, Petroleum Resources (Gas), Ekperikpe Ekpo, emphasized Nigeria’s commitment to leveraging natural gas for economic growth and energy transition.
He highlighted significant advancements in infrastructure, policy reforms, and gas utilization initiatives.
According to him, the key projects include the AKK gas pipeline, expected to enhance industrialization and job creation, and investments in LNG, CNG, and gas-to-chemicals.
He added that the Federal Government aims to position Nigeria as a leading gas-powered economy by 2030, fostering a business-friendly environment for sustainable energy solutions.
