The Federal Government has warned international oil companies (IOCs) and other operators that only those ready to fast-track field development and sanction real projects will retain their positions in Nigeria’s petroleum sector.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, delivered the warning at the 2025 Practical Nigerian Content Forum in Yenagoa, Bayelsa State. He said immediate operational activity, not dormant licences, is essential to raising crude production and keeping Nigeria competitive in the global hydrocarbons market.
Lokpobiri said improved alignment among the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Nigerian Content Development and Monitoring Board (NCDMB) has restored investor confidence, but operators must now commit to execution. He stressed that engineering and procurement contractors will not mobilise without approved field-development plans, reliable drilling schedules and firm capital commitments.
He welcomed the 2025 licensing round offering 50 oil blocks but insisted that only technically and financially capable bidders should participate. He said the era of securing oil blocks and leaving them idle is over and that all assets must move into accelerated activity.
Lokpobiri said government is tackling security issues, speeding up approvals, reviving stalled projects and expanding evacuation infrastructure. He noted that every additional barrel produced increases revenue, creates jobs and supports economic stability.
On local content, he said Nigeria is shifting from basic participation to global competitiveness through stronger compliance, better monitoring and disciplined funding for service companies. He told operators, EPC firms, financiers and host communities that the industry must move from discussions to real commitments.
Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said the Petroleum Industry Act has fully liberalised the midstream and downstream gas sectors, enabling major gas projects including AKK, OB3, the Trans-Saharan and Trans-Atlantic schemes and new regional interconnections.
Special Adviser to the President on Energy, Olu Verheijen, reaffirmed the administration’s three-million-barrels-per-day target.
NCDMB Executive Secretary, Felix Ogbe, said local content has reached 61 percent and announced plans to conclude Project 100 by April 2026 and operationalise NOGAPS parks in Odukpani and Emeyal 1.
