The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has disclosed that Nigeria recorded a major investment milestone in 2025 with the signing of 28 new field development plans valued at $18.2 billion, carrying an estimated production potential of 1.4 billion barrels of crude oil.
Lokpobiri made this known on Tuesday in Abuja while delivering his ministerial address at the opening ceremony of the 9th Nigeria International Energy Summit 2026. He said the achievement underscored Nigeria’s emergence as Africa’s leading destination for oil and gas investments.
According to the minister, four of the seven major Final Investment Decisions (FIDs) announced across Africa between 2024 and 2025 were taken in Nigeria, reflecting renewed confidence in the country’s hydrocarbon sector.
“The signing of 28 new field development plans with a combined value of $18.2bn and a production potential of 1.4 billion barrels did not happen by chance. It is the direct result of deliberate reforms, improved policy clarity, and stronger governance structures that have restored investor confidence in Nigeria’s oil and gas industry,” Lokpobiri said.
He noted that the progress achieved was aligned with the objectives of the Nigeria International Energy Summit, which serves as the Federal Government’s official annual platform for energy policy dialogue, investment promotion, and innovation. The ninth edition of the summit is themed “Energy for Peace and Progress: Securing Our Shared Future.”
Lokpobiri added that the government remains committed to sustaining reforms in the sector to ensure competitiveness, attract long-term capital, and unlock Nigeria’s vast energy resources for economic growth and national development.
