Nigeria’s Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, Ph.D, has reaffirmed Nigeria’s leading role in advancing Africa’s energy security, advocating for deeper regional collaboration at the Africa Oil Week (AOW) 2025 Ministerial and CEO Leadership Forum.
In a statement signed by Nneamaka Okafor, his Special Adviser on Media and Communication, Sen. Lokpobiri emphasized that integration is the most effective strategy to combat Africa’s energy poverty. He noted that shared infrastructure, harmonized standards, and technical expertise will secure the continent’s energy future.
Highlighting Africa’s dependence on imports, he revealed that the continent spends over $120 billion annually on hydrocarbon imports.
“This is capital flight. These funds should remain within Africa to drive our own development priorities,” the Minister said.
He added that the main challenge is not access to capital but misaligned regulatory frameworks and fiscal policies. “Investors make long-term decisions based on stability and predictability. Africa must harmonize its policies to attract and retain investment,” he stressed.
As part of Nigeria’s leadership initiative, Sen. Lokpobiri announced the creation of the West African Reference Market (WARM) a platform that will leverage Nigeria’s expanding refining capacity to supply petroleum products across West Africa and beyond.
On the topic of the global energy transition, he clarified that the Paris Agreement does not require abandoning fossil fuels, but rather reducing emissions. “Africa contributes only 3% of global CO₂. We cannot lead an energy transition without sufficient energy. Our priority must be responsibly harnessing our abundant resources to power growth,” he explained.
Sen. Lokpobiri concluded with a call for continental unity: “Africa has the market, the population, and the resources. Now, we must retain value within our continent and finance our own energy future.”