Nigeria stepped onto one of the world’s most influential energy stages this week, using its presence at CERAWeek by S&P Global in Houston to make a strong case for renewed global investment in its energy sector.
n a series of engagements and interviews with Channels Television on the sidelines of the event, top government and industry officials projected confidence in the country’s oil and gas assets, while highlighting ongoing reforms aimed at improving transparency, efficiency, and investor returns.
At the forefront of the investment drive was the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, who made a direct appeal to international oil companies and global investors.
Speaking on the sidelines of the conference, Lokpobiri declared that “Nigeria’s crude is one of the best in the world,” adding that the country’s message is already resonating with investors. According to him, “when they are prioritising investment destinations, Nigeria will be the preferred destination.”
Lokpobiri explained that Nigeria’s renewed push is backed by tangible improvements in the operating environment, particularly in terms of regulatory clarity and stability.
He noted that, unlike in the past, investors now have stronger assurances. “We have reforms… we have clarity, we have certainty, and we have stability of regulations and legal framework for them to come and invest,” he said.
He further stressed that Nigeria is positioning itself as a viable alternative in a world grappling with energy supply uncertainties. “The Nigerian delegation came with just one message—that Nigeria is ready for investment,” Lokpobiri said, adding that the country is offering “an alternative to global investment in the energy sector,” particularly as geopolitical tensions reshape traditional energy markets.
On the industry side, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bashir Bayo Ojulari, reinforced the government’s message by highlighting ongoing structural and policy reforms aimed at improving transparency and investor confidence.
In his remarks to Channels Television, Ojulari backed Executive Order 9, noting that it would “enhance financial transparency” across the oil and gas sector.
According to him, the policy is part of a broader effort to ensure that the industry operates with greater accountability and efficiency.
He emphasised that transparency is a critical factor in attracting capital, especially in a competitive global market where investors are increasingly focused on governance standards.
Ojulari also highlighted the importance of strengthening Nigeria’s domestic energy value chain, particularly through strategic partnerships.
He pointed to the collaboration between NNPC Limited and the Dangote Refinery as a major milestone in stabilising the country’s fuel supply. “The partnership… is helping to stabilise Nigeria’s fuel supply,” he said, noting that it is already reducing reliance on imports and improving energy security.
Beyond domestic considerations, Ojulari drew attention to emerging opportunities in the global energy market. He noted that geopolitical tensions, including the ongoing crisis in the Middle East, are creating new openings for Nigeria.
“The Israel-Iran war has opened commercial opportunities for Nigeria,” he said, explaining that disruptions in traditional supply chains are forcing buyers to seek alternative sources. This, he added, places Nigeria in a strong position to expand its market share.
Across all engagements, a consistent theme was Nigeria’s shift from potential to performance.
Officials emphasised that the country is no longer relying solely on its vast hydrocarbon resources but is actively implementing reforms to make the sector more attractive and competitive.
Lokpobiri underscored this point by highlighting the government’s proactive engagement with major international oil companies, including Shell, Chevron, Total, Eni, and ExxonMobil, noting that discussions are already yielding positive signals.
He also addressed historical concerns about instability in the sector, pointing out that Nigeria has recorded over a decade without major disruptions in upstream operations.
This, he said, should reassure investors about the reliability of Nigeria as a long-term partner.
“For the past 15 years or more, Nigeria hasn’t experienced any upstream disruption,” Lokpobiri stated, adding that “the facts are there for anybody to see.”
For industry watchers, Nigeria’s presence at CERAWeek represents a more deliberate and strategic approach to global engagement. By combining strong messaging from both government and industry leaders, the country is attempting to rebuild trust and reposition itself as a key player in the global energy market.
The emphasis on reforms, transparency, and partnerships suggests a broader shift in how Nigeria is approaching its energy sector—moving away from uncertainty and towards a more structured, investor-friendly framework. With global energy markets undergoing significant changes, particularly due to geopolitical tensions and the ongoing energy transition, Nigeria is seeking to capitalise on its advantages while addressing longstanding challenges.
Ultimately, Nigeria’s outing in Houston paints the picture of a country actively redefining its energy narrative. With officials like Lokpobiri and Ojulari leading the charge, the message is clear: Nigeria is open for business, equipped with competitive resources, and committed to creating an environment where global investors can thrive.
