2025 a Win for Nigeria’s Oil Sector — Lokpobiri

Nigeria’s oil and gas sector recorded major gains in 2025 following far-reaching reforms, renewed investor confidence, and improved crude oil production, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said.

Speaking while reviewing the performance of the sector over the past year, Lokpobiri described 2025 as a “turning point” for Nigeria’s oil industry, noting that deliberate policy actions by the Federal Government had begun to yield tangible results.

According to the minister, key reforms introduced under the Petroleum Industry Act (PIA) helped stabilise the sector, improve transparency, and create a more attractive environment for both local and foreign investors. He said these changes reversed years of decline caused by crude oil theft, pipeline vandalism, regulatory uncertainty, and under-investment.

“2025 has been a good year for Nigeria’s oil sector. We have seen increased investments, improved security around critical oil assets, and a steady rise in production,” Lokpobiri said.

He disclosed that sustained engagement with oil-producing communities, security agencies, and industry stakeholders significantly reduced disruptions to oil operations, leading to higher output and export volumes.

The minister also highlighted new upstream investments and renewed interest from international oil companies, many of which had previously slowed operations or divested from Nigeria due to operational challenges.

“Our focus has been to create stability, restore confidence, and ensure Nigeria regains its rightful place as a major global oil producer,” he added.

Lokpobiri further noted that improved performance in the oil sector contributed positively to government revenue in 2025, helping to support budget implementation and broader economic recovery efforts.

He assured Nigerians that the Federal Government would sustain the reforms in 2026, with emphasis on boosting production capacity, attracting more investments, and ensuring that oil-producing communities benefit directly from industry activities.

Analysts say the minister’s remarks reflect growing optimism within the sector, even as stakeholders continue to call for sustained reforms, stronger regulation, and long-term diversification of Nigeria’s economy away from crude oil dependence.