The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has announced that the country has broken a 10-year drought in oil sector investments, thanks to reforms introduced under President Bola Tinubu’s administration.
Lokpobiri disclosed this in a statement issued by his Special Adviser on Media and Communication, Nneamaka Okafor, on Thursday.
The remarks followed his keynote address at the United States–Nigeria Council’s session on oil sector collaboration, held on the sidelines of the ongoing United Nations General Assembly in New York.
According to the minister, the period of stagnation crippled growth, eroded investor confidence, and left several oil blocks inactive. However, he stressed that recent policy changes have repositioned Nigeria as an attractive destination for global energy investments.