Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has called for support of the African Energy Bank (AEB), saying it would not only boost energy self-sufficiency but also guarantee economic sovereignty, industrialization, and inclusive growth on the continent. Lokpobiri stressed that for Africa to build its energy future, it must stem from conscious …
Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said the Federal Government will enforce the “Drip or Drop” principle enshrined in the Petroleum Industry Act (PIA) to ensure the timely utilisation of oil and gas assets by licensed operators. Lokpobiri stated this during the pre-bid conference for the 2025 licensing round held …
The $5 billion Africa Energy Bank building is ready for use once the APPO and Afreximbank complete the administrative and regulatory processes, the Federal Government of Nigeria has said. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said during a recent inspection visit to the facility in Abuja. The bank has missed two …
Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called for massive investments in the oil and gas sector to reduce Africa’s spending on hydrocarbon imports. The minister made the call during his keynote speech at the opening ceremony of the 2025 Oil Trading and Logistics (OTL) Africa Downstream Energy Week in …
In its quest to strengthen investor confidence in Nigeria's oil and gas sector and boost production, the federal government has slashed the signature bonus by 90 per cent from about $100 million to $10 million. This is as it targets 2.5 million barrels per day by 2027. Chief Executive of the Nigeria Upstream Petroleum Regulatory …
