Nigeria’s oil production has surged to an impressive 1.8 million barrels per day (bpd), a substantial increase from the previous 1 million bpd, according to Senator Heineken Lokpobiri, the country’s Minister of State for Petroleum Resources. The target is clear—Nigeria aims to hit 2.5 million bpd as it attracts strong interest from American companies eager to invest in the nation’s oil blocks.
Speaking at the inaugural Africa Energy Investment Summit (AE Invest 2025) in New York, Senator Lokpobiri highlighted Africa’s renewed confidence in its energy sector, signaling a resurgence in investments. The Minister emphasized the continent’s pivotal role in the global energy landscape, especially in the face of ongoing efforts by Western nations to expand fossil fuel production.
“Africa must not be misled into abandoning fossil fuels while the West continues to expand production. Our hydrocarbons will fund our transition, not charity or aid,” Senator Lokpobiri asserted during a panel session. His message was one of self-reliance, urging African nations to leverage their natural resources for sustainable growth and energy independence.
Further amplifying the call for African sovereignty in energy matters, H.E. Antonio Oburu Ondo, Minister of Hydrocarbon Mining Development for Equatorial Guinea, voiced the need for urgent action to regain control over the continent’s energy future. “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 matter of sovereignty. We must establish the African Energy Bank, mobilize our sovereign wealth and pension funds, and secure Africa’s rightful position as a global energy leader,” he declared.
The summit also featured insights from H.E. Dr. Omar Farouk Ibrahim, the Secretary General of the African Petroleum Producers Organization (APPO), which organized the event. According to Ibrahim, the United Nations General Assembly (UNGA) serves as a crucial platform for connecting African leaders and global investors, unlocking essential funding for the continent’s energy future.
