The Federal Government through the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Ph.D., has emphasized local content development, sustainability, and Africa’s financial independence in the energy sector during Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2025, Nigeria’s
Speaking on the theme “Building Africa’s Future: Advancing Local Content and Sustainable Development in the Oil and Gas Industry,” Lokpobiri emphasized Nigeria’s success in empowering indigenous companies through local content policies and oil asset divestments.
“Local content is no longer a luxury; it is the key to unlocking Africa’s true potential,” he stated.
Lokpobiri also announced the establishment of the African Energy Bank (AEB), set to be hosted in Nigeria, as a game-changer for financing energy projects across the continent.
“This institution has the potential to revolutionize energy financing by providing funding tailored to Africa’s unique needs, reducing reliance on foreign capital,” he emphasized.
Addressing global energy transitions, Lokpobiri urged African nations to embrace renewables while optimizing hydrocarbon resources responsibly.
“Sustainability is not just about the environment; it is about our people,” he noted, stressing the need for host communities to benefit from energy developments.
In a call to action, he urged regional collaboration, investment in human capital, and transparency to secure Africa’s energy future.
“This is not just another chapter in Nigeria’s energy story—this is the dawn of a new era. Nigeria is not just adapting to change; we are shaping it,” he declared.
With Nigeria leading the charge, SAIPEC 2025 marks a defining moment for Africa’s energy landscape, setting the stage for a future of self-reliance, innovation, and sustainable development.
