Africa’s energy destiny hinges on the ability to harness its natural resources, empower the people, and lay the foundation for long-term, sustainable development
The Minister of state for Petroleum Resources (Oil) Senator Heineken Lokpobiri, stated this while delivering a keynote address in Lagos at Sub-saharan African International Petroleum Exhibition and Conference, SAIPEC 2025, with the Theme: “Building Africa’s Future: Advancing Local Content and Sustainable Development in the Oil and Gas Industry.”
According to him, “Local content is no longer a luxury; it is the key to unlocking Africa’s true potential. By investing in local businesses, nurturing our youth, and transferring critical technology to our people, we are not just building an industry, we are shaping our future.
In Nigeria, we have witnessed firsthand the transformative power of local content. Our successful divestment program, empowering indigenous companies to take ownership of marginal fields and shallow water assets, stands as a testament to this shift. This program has not only enhanced production capacity but has also opened new opportunities for local businesses, service providers, and communities”.
The Minister noted that through the growth of Nigerian companies, there has been remarkable demonstration of technical expertise and operational efficiency, which has revitalized dormant assets, expanded production, and retained greater value within the nation’s economy.
“Nigeria is now a regional leader, proving that African nations can take full ownership of their resources and transform them into engines of prosperity. However, this journey is far from complete. The future holds even greater promise. With the right policies, access to financing, and technological support, indigenous operators will be able to tackle larger projects, make new discoveries, and play even more dominant role in Africa’s energy future.”, he said.
“As a government, we remain committed to providing the enabling environment for businesses to thrive. But we cannot achieve this alone. Africa must unite. We must share knowledge, close funding gaps, and harmonize regulations to strengthen our competitiveness. Our greatest asset is our collective strength, and together, we can build a brighter future”.
“The world is evolving, and so must we. The global transition to cleaner energy is not a threat, it is an opportunity. Africa can and must lead the way in sustainable energy development.
Our approach must be twofold:
- Optimizing Our Hydrocarbon Resources: We must extract value from our oil and gas in ways that diversify our economies, while remaining environmentally responsible.
- Investing in Renewables: The future belongs to those who embrace change. By integrating Africa’s abundant renewable energy sources into our energy mix, we can secure long-term energy stability.
Lopobiri argued that sustainability was not just about the environment; but about the people. So, host communities must benefit. the children must inherit an industry that prioritizes education, healthcare, and infrastructure, as real development is measured by the lives that are transformed
He noted that one of the greatest challenges to Africa’s energy development has been access to financing. “As global investment in oil and gas declines due to energy transitions, Africa has decided to take charge by creating its own solutions. A landmark initiative in this regard is the establishment of the African Energy Bank (AEB), which will be hosted in Nigeria. This institution has the potential to revolutionize energy financing across the continent by providing funding tailored to Africa’s unique energy needs. This is not just for oil-producing nations; it is for all of Africa.
The African Energy Bank represents a shift toward financial autonomy. It allows us to move away from dependency on foreign capital and external policies that do not align with Africa’s development priorities. This bank has the power to unlock billions in funding, accelerate infrastructure development, and secure Africa’s energy future. This is how we take control of our destiny.
For the African Energy Bank to succeed, it requires broad support. Every African nation must play a role in strengthening this institution, ensuring it serves as a catalyst for economic transformation. Nigeria has taken the lead in hosting this bank, but its success will depend on the collective commitment of all African nations, private investors, and regional financial institutions.
A Call to Action”
“Ladies and gentlemen, the time for talking has passed. Now is the time for action. To build Africa’s energy future, we must:
Strengthen Regional Collaboration: Let us create frameworks that encourage African nations to work together, rather than compete against one another.
Invest in Human Capital: The energy industry of tomorrow requires a skilled, innovative workforce that is ready to seize global opportunities.”
“Technology is transforming the world. Africa must lead, not follow. Let us invest in research, development, and digital transformation.
Uphold Transparency and Governance: Investors trust nations that prioritize accountability. Good governance is good business.
“This is not just another chapter in Nigeria’s energy story—this is the dawn of a new era. An era of leadership, where we set the pace for Africa’s energy transformation. An era of self-reliance, where indigenous companies drive progress. An era of bold investments, where Africa finances its own energy future. And an era of sustainability, where economic growth and environmental responsibility go hand in hand. Nigeria is not just adapting to change—we are shaping it. The future is bright, and we invite the world to join us as we power Africa’s next frontier.”
“Africa’s strength is not just in its oil, gas, and minerals—it is in its people. We are resilient. We are resourceful. We are ready.
By committing to local content, sustainability, and innovation, we will not just participate in the global energy conversation—we will lead it.
This is our moment. Let’s seize it”, the minister concluded.
