Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has announced that the country’s oil production has climbed from 1 million barrels per day (bpd) to 1.8 million bpd, with a target of 2.5 million bpd in the near future. He added that American companies are already showing strong interest in investing in Nigerian oil blocks.
Speaking at the inaugural Africa Energy Investment Summit (AE Invest 2025) held in New York, Lokpobiri said the development reflects renewed global confidence in Africa’s energy sector. He stressed that fossil fuels will remain critical to Africa’s growth.
“Africa must not be deceived into abandoning fossil fuels while the West continues to expand production. Our hydrocarbons will finance our transition—not charity, not aid,” Lokpobiri said during a panel session.
In his remarks, H.E. Antonio Oburu Ondo, Equatorial Guinea’s Minister of Hydrocarbon Mining Development, representing Vice President Nguema Obiang Mangue, urged urgent steps to reclaim Africa’s energy destiny. “Africa holds 40% of the world’s natural resource discoveries yet remains at the mercy of financiers in London, Paris, and New York. Energy finance is a question of sovereignty. We must build the African Energy Bank, mobilize our sovereign wealth and pension funds, and secure Africa’s rightful place as a global energy leader,” he said.
Also speaking, Dr. Omar Farouk Ibrahim, Secretary-General of the African Petroleum Producers Organization (APPO), emphasized the significance of the summit coinciding with the United Nations General Assembly (UNGA). He noted that the platform provided a rare opportunity for African leaders and investors to connect, engage, and unlock funding for the continent’s energy future.
