Nigeria’s crude oil production has climbed to 1.8 million barrels per day, up from about 1 million, according to Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri. He said government’s new target is 2.5 million barrels per day, with American firms already showing interest in Nigerian oil blocks.
Speaking at the inaugural Africa Energy Investment Summit (AE Invest 2025) in New York, Lokpobiri highlighted renewed confidence in Africa’s energy sector. He urged sustained investment in fossil fuels, stressing that Africa should not be pressured into abandoning hydrocarbons while Western nations continue to expand production.
“Our hydrocarbons will finance our transition, not charity, not aid,” Lokpobiri said during a panel session.
Also addressing the summit, Equatorial Guinea’s Minister of Hydrocarbon Mining Development, Antonio Oburu Ondo, who represented Vice President Nguema Obiang Mangue, urged African nations to reclaim control over their energy future.
“Africa holds 40% of the world’s natural resource discoveries yet remains at the mercy of financiers in London, Paris, and New York. We must build the African Energy Bank, mobilize our sovereign wealth and pension funds, and secure Africa’s rightful place as a global energy leader,” Ondo declared.
The Secretary General of the African Petroleum Producers Organization (APPO), Dr. Omar Farouk Ibrahim, said the timing of the summit alongside the United Nations General Assembly offered an opportunity to connect leaders with global investors and unlock fresh funding for Africa’s energy future.
