The Federal Government has announced its offering of ‘global standard’ incentives to international oil firms willing to invest in the Nigerian petroleum industry.
Heineken Lokpobiri, Minister of State for Petroleum Resources, stated this in Abuja on Friday, while receiving a delegation from Vaalco Energy, an American independent oil and gas exploration and development company.
The delegates of Vaalco Energy have expressed interest in re-entering Nigeria through the acquisition of Svenska’s PSC interest in Oil Mining Lease (OML) 145.
According to Lokpobiri, Nigeria is strengthening its position as a top global investment destination, welcoming international partners back to its oil and gas industry with competitive incentives and a renewed commitment to collaboration.
He said, “The Government of President Bola Ahmed Tinubu is particularly interested in creating a better environment for companies that were once here but left for various reasons to return. We are prepared to offer incentives comparable to the best available globally.
“It is gratifying for us as a nation when those who have worked here become ambassadors, speaking of how friendly and conducive Nigeria is for business. We are glad to welcome you back.”
He assured that Nigeria’s policies now provide clarity, fiscal stability, and investor-friendly frameworks that encourage long-term partnerships.
“Your renewed presence will help us ramp up production and achieve our national energy objectives. Together, we can build a future of shared growth and prosperity,” he added.
In his remarks, Pieter Van der Groen, Vaalco Energy’s Managing Director, said the company sees Nigeria as a key investment hub.
“We are here to seek regulatory guidance for acquiring Svenska’s interest in OML 145, but more importantly, to return to Nigeria and invest in a stronger way. As a New York Stock Exchange-listed company, we have access to funding to develop the assets we acquire. We are not here to sit on them; we are here to produce.”
