- The Nigeria Energy Investment 2025 roadmap calls for $700 billion in yearly funding to sustain energy supply and prevent a global crisis.
- The 2025 strategy promotes stronger exploration, innovation, and homegrown energy solutions for Africa’s future.
Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has warned that Nigeria and other nations risk a severe energy crisis without significant investment in the sector. He stated that the world must invest approximately $700 billion annually to maintain a stable energy supply.
Lokpobiri explained that global discussions have shifted from rejecting fossil fuels to embracing a balanced energy mix. Even countries that once opposed oil and gas now admit these resources will remain vital for decades.
Speaking at the 2025 Nigerian Association of Petroleum Explorationists (NAPE) Conference in Lagos, themed “Revitalising Energy: Strategies for Petroleum Exploration and Production,” Lokpobiri described the event as an essential platform to review Nigeria’s exploration strategy. He said it comes at a time when the global energy transition is changing investment priorities.
The minister reaffirmed the Federal Government’s commitment to reviving exploration through the Petroleum Industry Act (PIA). He also promised transparent management of the Frontier Exploration Fund. He noted that Nigeria, as Africa’s top oil and gas producer, must continue to play a key role in meeting both local and global energy needs.
However, Lokpobiri expressed concern about the drop in exploration activity. Many operators, he said, hold licences but fail to develop their fields. The government will enforce the PIA by revoking idle licences and reallocating them to capable investors.
He added that the Frontier Exploration Fund now supports new basin projects with strict transparency rules. Lokpobiri urged African nations to develop homegrown energy strategies instead of relying on uncertain funding from developed countries. “Those telling us to abandon our resources continue to exploit theirs,” he said.
While backing renewable energy, the minister noted that global investment in renewables is slowing, even in developed economies. As a result, oil and gas will continue to drive growth, innovation, and energy stability.
Meanwhile, Ondo State Governor Lucky Aiyedatiwa called for practical steps to reduce fuel imports and achieve energy independence. He highlighted Ondo’s daily crude output of 60,000 barrels and its vast bitumen reserves, the world’s second-largest.
He also mentioned a Public-Private Partnership (PPP) signed in July 2025 between Ondo State, the Nigerian National Petroleum Company Limited (NNPC), and Backbone Infrastructure Limited. The deal will establish a 500,000-barrel-per-day refinery in Ilaje Local Government Area. He stated that the project will create jobs and enhance local refining capacity.
In conclusion, both Lokpobiri and Aiyedatiwa stressed that steady investment, innovation, and regional collaboration are vital. With strong implementation of the Nigeria Energy Investment 2025 roadmap, Nigeria can lead Africa toward a secure and sustainable energy future.