The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said Nigeria is strengthening its position as a top global investment destination, welcoming returning investors and international partners back to its oil and gas industry with competitive incentives and a renewed commitment to collaboration.
Lokpobiri made the remarks in Abuja while receiving a delegation from Vaalco Energy, an American independent oil and gas exploration and development company, which expressed interest in re-entering Nigeria through the acquisition of Svenska’s PSC interest in Oil Mining Lease (OML) 145.
Lokpobiri restated President Bola Tinubu’s interest in providing a conducive environment for companies that left Nigeria in the past saying the Federal Government is ready to offer incentives comparable to the best available globally.
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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.”
Commending Vaalco’s renewed interest, Lokpobiri 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 sees Nigeria as a key investment hub and came back to invest in the country and develop the acquired assets.
“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,” Van der Groen stated.
Lokpobiri however 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,” the minister stated.
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