‘Africa deserves equal energy investment opportunities’

Mkpoikana Udoma

Port Harcourt — Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called on the international community to extend the same energy investment opportunities to Africa as are given to other regions of the world, stressing that doing so is crucial to achieving global energy security and shared prosperity.

Speaking during the Ministerial Session at the just concluded 9th OPEC International Seminar in Vienna, Lokpobiri asserted that Africa must not be sidelined in the global transition toward sustainable and secure energy access.

Addressing the topic “Oil Markets: Energy Security, Growth and Prosperity”, Lokpobiri emphasized that energy availability and affordability remain fundamental drivers of economic growth, adding that without equitable access to investment capital, Africa’s energy potential will remain underutilized.

“For Africa to truly be part of the global journey toward energy security, it is imperative that the continent be afforded the same investment opportunities that have been extended to other regions,” he said.

He noted that under the leadership of President Bola Ahmed Tinubu, Nigeria has undertaken major reforms and overhauled its legal and regulatory frameworks to make the energy sector more attractive and investor-friendly.

“We now offer a stable and predictable environment for investment. Our ambition is not only to meet Nigeria’s domestic energy needs, but also to serve the wider West African sub-region, which is heavily reliant on our market,” Lokpobiri said.

He stressed the urgent need for increased capital inflow across Nigeria’s upstream, midstream, and downstream sectors, pointing out that strategic investment is key to building critical infrastructure, developing local capacity, and closing the continent’s energy access gap.

“By enabling greater access to investment in Africa’s energy sector, the international community can help unlock our vast energy resources. This is essential for industrialization, job creation, and poverty reduction,” the Minister stated.

The call comes amid growing debate over the role of hydrocarbons in the global energy mix and the need to balance climate goals with development realities in emerging economies.