Sopuruchi Onwuka

Federal government has restated its resolve to use indigenous capacity to sustainably boost crude oil, condensate and gas liquids production in the immediate to long term.

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Minister of State for Petroleum Resources in charge of Oil, Senator Heineken Lokpobiri stated in Yenegoa, Bayelsa State that the measure is part of the working strategies to stabilize domestic economy and enhance national energy security.

Senator Lokpobiri who delivered a ministerial address at the ongoing Nigerian Oil and Gas Opportunity Forum (NOGOF) in Yenegoa charged the industry to urgently ramp up crude oil production as the strategic part of national agenda to prioritize indigenous expertise.

He stated that governing was working to ensure that Nigerian innovation and enterprise become central to economic growth and industrial transformation.

The Oracle Today reports that the 2025 NOGOF is hosted by the Nigeria Content Development and Monitoring Board (NCDMB) and organized by Jake Riley Limited.

The minister told delegates at the conference that the industry has clear directive under President Bola Ahmed Tinubu’s Renewed Hope Agenda to reengineer the entire energy value chain and make it more efficient, inclusive, and attractive to both local and global investors.

According to him, “a major component of this vision is having comprehensive seismic data across all exploration fronts—an essential tool for de-risking investment and making sound policy and operational decisions.’’  

He explained both the industry governing laws and Executive Orders by the president have laid out fiscal and operating incentives that rewards investors that stake funds in delivering the country economic aspirations in the petroleum industry.

 ‘’The Petroleum Industry Act (PIA) has laid a solid foundation by streamlining regulations, improving the fiscal terms and enhancing operational transparency. Furthermore, through a series of Executive Orders, President Tinubu has approved measures aimed at catalyzing investment and ensuring Nigeria remains Africa’s most dynamic and investable energy market.

‘’We are no longer just enabling investment—we are fostering bankable, de-risked, and sustainable opportunities in African most dynamic energy landscape. This is a new era of enterprise,’’ Senator Lokpobiri declared at the event.