Heineken Lokpobiri, Nigeria’s Petroleum Minister, has voiced his strong support for divestment plans that encourage collaboration between local firms and international oil companies (IOCs). Speaking at an oil and gas conference in Lagos on June 12, 2025, Lokpobiri highlighted the transformative potential of these initiatives for Nigeria’s energy sector.
Boosting Local Capacity and Participation
In his address, Lokpobiri emphasized the critical need to empower local companies in the oil and gas industry. He stated, “Divestment from IOCs presents an opportunity for local firms to access essential resources and technology. This collaboration will enhance our domestic capabilities and drive economic growth.”
The Nigerian government is committed to creating a favorable environment for local firms to thrive. By facilitating partnerships with IOCs, the government aims to enable local companies to compete effectively in the sector. Lokpobiri underscored that these divestment strategies could lead to increased investment in local infrastructure and significant job creation.
Economic Growth and Job Opportunities
Lokpobiri pointed out that these divestment initiatives align with the government’s broader objectives of enhancing the oil and gas sector’s contribution to the national economy. By promoting local participation, the government seeks to diversify the industry and reduce dependency on foreign entities. “Our goal is to create jobs for Nigerians and ensure that the benefits of our natural resources are shared among our people,” he stressed.
The minister cited successful partnerships between local firms and IOCs as examples of the economic benefits of such collaborations. He encouraged more local companies to seek out partnership opportunities, assuring them that the government would support these initiatives with favorable policies and incentives.
Promoting Collaboration for Future Success
Concluding his remarks, Lokpobiri called for stronger collaboration among all stakeholders in the oil and gas sector. He urged IOCs to view divestment as a strategic move that not only benefits local firms but also enhances their operational efficiency. “By working together, we can develop innovative solutions and increase productivity in the industry. Together, we can build a robust oil and gas sector that supports national development,” he stated.
Minister Heineken Lokpobiri’s endorsement of divestment plans marks a significant shift toward empowering local firms and promoting sustainable growth in Nigeria’s oil and gas industry. By fostering strategic partnerships between local companies and international players, the government is laying the groundwork for a more resilient energy sector. As these initiatives progress, the prospects for economic growth and job creation in Nigeria’s oil and gas landscape look increasingly promising.
