By Olakunle Oke
Senator Heineken Lokpobiri, the Honourable Minister of State for Petroleum Resources (Oil), has strongly urged Nigeria and other African nations to ramp up investments in oil and gas, maintaining that hydrocarbons remain crucial for global energy stability despite the pressure for a shift to net-zero emissions.
Speaking at the OTL Africa Downstream Energy Conference, Lokpobiri challenged African leaders to resist calls to abandon fossil fuels prematurely, warning that such a move would critically hinder development across the continent.
“The world cannot expect Africa to carry the burden of climate change without adequate support,” the Minister stated, noting that even if Africa which contributes only a minimal percentage to global emissions cuts its output, it would not halt global warming.
Lokpobiri anchored his call for sustained investment on the reality of global energy demand.
He cited projections, reportedly from the International Energy Agency (IEA), which indicate a global investment need of approximately $540 billion in oil, gas, and hydrocarbon resources to avert an impending energy crisis.
The Minister emphasized that while the world transitions to cleaner energy, Africa must strategically utilize its abundant resources to position itself for industrial growth and energy stability. With a population exceeding 1.5 billion, Africa represents a vital market for energy consumption.
Lokpobiri also pointed out the hypocrisy in global climate funding: despite commitments made under the Paris Agreement to support developing countries’ transition to clean energy, much of the promised funding has yet to materialize.
To secure its future, Nigeria is actively pursuing initiatives to boost its oil production to 1.4 million barrels per day, which will support both national economic stability and the continent’s energy needs.
Lokpobiri stressed that Africa’s energy challenges, particularly in regions like Southeast Nigeria, underscore the need for sustained investment in both oil and renewable sectors.
In his closing remarks, the Minister called for stronger partnerships that allow African countries to participate more fully in the global energy value chain.
He commended the Federal Government’s commitment to downstream sector reforms, concluding the conference with optimism for deeper continental collaboration.
“It is my rare honor to declare this year’s African Downstream Energy Conference and Exhibition a huge success,” he said.