Youth Congress Hails Lokpobiri For Attracting More Investments, Raising Oil Output

The Nigerian Youth Congress (NYC) has commended the Minister of State for Petroleum, Senator Heineken Lokpobiri, over the achievements recorded under his tenure.

The group said the reforms have transformed Nigeria’s energy landscape.

At the end of the 2025 ministerial assessment, NYSC president, Comrade Jethro Terhile Annum, praised Lokpobiri for his giant strides towards consolidating Nigeria’s energy future, in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.

In a statement issued yesterday, Annum said, “As a patriot, Senator Lokpobiri has played a leading role in resolving long-standing divestment issues involving major international oil companies by working closely with regulators, host communities, and new indigenous operators. This has led to smooth asset transfers without disrupting production. This has led to competitiveness, job safety and increased output.”

Annum said the minister played a crucial role in stabilising the oil sector through clearer policy direction, coordination and oversight.

According to him, Lokpobiri’s tenure has been marked by improved coordination among agencies, respect for regulatory frameworks, and clarity in policy implementation. The absence of operational disruptions across the entire value chain during the period under review can be attributed solely to his efforts, he added.

The NYC leader asserted that the minister secured a $5 billion Final Investment Decision (FID) for the Bonga North Deep-Water project, noting that his engagement with Shell and partners helped to unlock one of Nigeria’s largest offshore investments.

Annum said he achieved this by addressing regulatory delays, encouraging alignment with national policy objectives to boost offshore production, creating jobs, expanding local content participation, and increasing Nigeria’s share of global deep-water oil development.

“Nigeria also experienced increased crude oil production from about one million to 1.8 million barrels per day (including condensates) through collaboration with security agencies, operational reforms, and resolution of regulatory disputes. The increase has improved government revenue, enhanced foreign exchange inflows and strengthened Nigeria’s ability to meet production targets.

“It is also on record that Lokpobiri championed reforms that simplified licensing procedures and introduced clearer regulatory timelines. The use of technology-driven systems, stakeholder consultations, and more predictable approvals reduced bottlenecks and encouraged investors. These boosted investors’ interest and accountability in the sector.

NYC also credited the stability in the supply of petroleum products across the country to the efforts of the minister, who is “working closely with NNPC Ltd, regulators, and marketers, to ensure steady monitoring of the downstream sector, helping to prevent fuel shortages, reduce smuggling pressures, nationwide availability, and maintain pricing stability. This has contributed immensely to boosting the confidence of Nigerians in the current administration”.

The youth group concluded by passing a vote of confidence in the Minister and hailing him for playing a critical role in securing Nigeria as the host country for the Africa Energy Bank, a development that has the potential to “positions Nigeria at the centre of Africa’s energy financing ecosystem, attracting capital for oil, gas, and renewable projects as well as serving as Africa’s energy headquarters.

“The Africa Energy Bank (AEB) is set to commence operations in the first quarter of 2026, aiming for an ambitious $120 billion asset base. With Nigeria securing the hosting rights through the dogged determination of Senator Heineken Lokpobiri, the partnership between Africa Export-Import Bank and African Petroleum Producers Organisation will support the continent’s energy transition goals and funding needs,” he said.