New Incentives: Nigeria Ready To Compete Globally, Lokpobiri Assures Investors

Nigeria has signalled its readiness to compete worldwide by matching the most attractive investment incentives available in the global oil and gas industry.

Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, gave this commitment while engaging with international partners keen on re-entering Nigeria’s energy sector.

Addressing a delegation from Vaalco Energy, an independent American oil and gas exploration company, Lokpobiri declared, “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.”

Highlighting the strategic importance of these incentives, the minister emphasised, “We recognise that attracting investment requires not just words but tangible, competitive packages. Our approach is designed to ensure that investors feel welcome, supported, and confident about their long-term commitments in Nigeria.”

Vaalco Energy’s managing director, Pieter Van der Groen, echoed the significance of this message: “Nigeria remains a key investment hub for us. We came seeking clarity and guidance on regulatory matters, but found a government ready to facilitate and incentivise our return. We have the financial capacity and strategic intent not to hold assets but to develop and produce.”

Lokpobiri also celebrated the growing role of returning investors as brand ambassadors for Nigeria. He remarked, “It is gratifying when those who have once operated here can attest to Nigeria’s business-friendly environment. Their renewed interest demonstrates that the incentive frameworks and policy stability are working.”

With policies now providing clarity and fiscal stability, the minister said Nigeria is “ready to build long-lasting partnerships that support ramping up production and delivering on our national energy goals.”

“Together, we can build a future of shared growth and prosperity,” Lokpobiri assured.