Nigeria’s renewed push to reestablish itself as a leading global oil and gas investment destination will take center stage at the Invest in African Energy (IAE) Forum in Paris next month, where Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), is set to speak.
His participation comes as Nigeria’s oil sector gains fresh traction, with a steady pipeline of investments, reforms and project activity reshaping the country’s outlook and opening new avenues for international capital. In 2025 alone, the country secured 28 new field development plans valued at $18.2 billion, unlocking an estimated 1.4 billion barrels of crude oil reserves.
This resurgence is underpinned by structural reforms, most notably the implementation of the Petroleum Industry Act, which has introduced a more transparent and predictable fiscal regime. Combined with improved security measures and operational efficiencies, these reforms are translating into tangible production gains. Nigeria’s crude output has rebounded to 1.6-1.7 million barrels per day (bpd) supported by increased drilling activity and targeted initiatives such as the “Project One Million Barrels” program.
Crucially, the sector is also undergoing a transformation in asset ownership and participation. Divestments by international oil companies – alongside increased participation from indigenous firms – have already contributed an additional 200,000 bpd to national output, signaling both localization and resilience within the upstream segment.
Beyond upstream activity, Nigeria is strengthening its midstream and downstream infrastructure to capture more value domestically and regionally. The commissioning and ramp-up of the Dangote Refinery – now operating at full capacity of approximately 650,000 bpd – marks a paradigm shift, enabling the country to meet domestic fuel demand while exporting refined products across Africa and beyond. This is complemented by ongoing pipeline developments and rehabilitation efforts, including strategic assets such as the Trans-Niger Pipeline, which plays a critical role in transporting crude to export terminals.
At the same time, gas monetization is emerging as a parallel growth frontier. Projects such as the Ajaokuta–Kaduna–Kano Natural Gas Pipeline aim to connect key regions and unlock domestic gas utilization, aligning with broader energy transition goals while enhancing industrial development.
For European stakeholders navigating evolving energy security priorities, Nigeria offers a unique combination of scale, proximity and diversification potential. The country’s vast reserves, improving investment climate and expanding infrastructure base position it as a strategic partner in both traditional hydrocarbons and transitional energy pathways.
Lokpobiri’s presence at the Paris forum provides a timely platform to engage directly with policymakers shaping Nigeria’s energy future. His participation is expected to highlight ongoing licensing rounds, investment-ready assets and partnership opportunities across the upstream, midstream and downstream value chain.
As global capital increasingly looks toward Africa for growth, Nigeria’s reemergence as a competitive and reform-driven energy market makes the Invest in African Energy Forum a critical venue for dealmaking, dialogue and long-term strategic alignment.
