Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, says Nigeria is ready to offer global-standard incentives to attract international investors back into its oil and gas sector.
He said, “The Government of President Bola Ahmed Tinubu is particularly interested in creating a better environment for companies that were once here but left for various reasons to return. We are prepared to offer incentives comparable to the best available globally,”.
Lokpobiri made the remark while receiving a delegation from Vaalco Energy, an American independent oil and gas company, which expressed interest in re-entering Nigeria through the acquisition of Svenska’s PSC interest in Oil Mining Lease (OML) 145.
Commending Vaalco’s renewed interest, the Minister added:“It is gratifying for us as a nation when those who have worked here become ambassadors, speaking of how friendly and conducive Nigeria is for business. We are glad to welcome you back.”
Vaalco Energy’s Managing Director, Pieter Van der Groen, said the company views Nigeria as a key investment hub:“We are here to seek regulatory guidance for acquiring Svenska’s interest in OML 145, but more importantly, to return to Nigeria and invest in a stronger way. As a New York Stock Exchange-listed company, we have access to funding to develop the assets we acquire. We are not here to sit on them; we are here to produce.”
Senator Lokpobiri assured that Nigeria’s policies now provide clarity, fiscal stability, and investor-friendly frameworks that encourage long-term partnerships. “Your renewed presence will help us ramp up production and achieve our national energy objectives. Together, we can build a future of shared growth and prosperity,” he concluded.
