The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, has stated that Nigeria will continue to maximise its fossil fuel resources, despite global campaigns advocating for energy transition and the reduction of carbon emissions.
The minister made the comments during the 30th anniversary celebrations of the Petroleum Technology Association of Nigeria (PETAN) held over the weekend in Lagos.
He emphasised that fossil fuels will remain a key part of Nigeria’s energy strategy, regardless of global calls for reduced carbon emissions and increased investment in renewable energy.
“Fossil fuels are here to stay, regardless of the rhetoric around carbon emissions and the push for more investments in renewable energy,” said Lokpobiri. “Nigeria is focused on attracting more investments into the oil and gas sector and increasing its oil production.”
He further stressed, “Historically, no source of energy has ever disappeared. Our global struggle for energy security is still tied to oil and gas. While the world may be shifting towards energy transition, fossil fuels remain indispensable. Therefore, attracting investments to maximise our resources and generate prosperity is crucial.”
Reflecting on the state of Nigeria’s oil and gas industry, the minister praised the growing role of indigenous investors and professionals, noting their positive impact on productivity and overall industry performance.
“Our drive to involve indigenous players in the oil sector has been immensely productive. It has attracted attention from other countries eager to learn from our model. This approach has been a cornerstone of our sector’s success, demonstrating the strength of local expertise in driving growth and innovation,” Lokpobiri said.
The Minister congratulated PETAN, a statutory member of the Nigerian Content Development and Monitoring Board (NCDMB), on its 30th anniversary, and urged the association to see this milestone as the beginning of a broader journey.
“I charge PETAN to view this achievement not as a destination but as the start of an even greater journey. I encourage them to aim beyond national boundaries, leveraging their experience and competence to expand their impact globally,” he added.
Lokpobiri also urged the association to continue its partnership with the Federal Government to drive growth in the oil and gas sector.
PETAN is an association of Nigerian Indigenous Technical Oilfield Service companies, operating across both the upstream and downstream sectors of the oil industry.
The minister’s remarks come amid ongoing global discussions about the transition to renewable energy and climate change. Activists have intensified calls for the reduction of greenhouse gas emissions from fossil fuel use, with a key focus of the recent COP29 summit being the acceleration of global energy transition through increased investments in renewable energy sources.
While many experts advocate for energy transition to safeguard the environment, others argue that African countries, including Nigeria, should prioritise industrialisation to spur economic growth. They contend that exploiting Africa’s vast fossil fuel reserves offers a cost-effective path to rapid economic development.