FG SEEKS PRIVATE INVESTMENT IN OIL, GAS INFRASTRUCTURE

The Federal Government has called for stronger private sector investment in Nigeria’s midstream and downstream oil and gas sectors to support rising crude production and expand infrastructure.

Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, made the call at the 2026 Petroleum Technology Development Fund Journal Summit in Abuja.

Lokpobiri said Nigeria’s crude production had increased from about one million barrels per day in 2023 to more than 1.7 million barrels per day, while active drilling rigs had risen from about 14 to over 60.

He said increased production needed to be matched by adequate refining capacity, pipelines, storage, transportation and logistics infrastructure.

The minister said recent investments, including the Dangote refinery and modular refineries such as Waltersmith and Aradel, showed the potential of private capital to expand the downstream sector.

He added that the government was working to improve regulatory certainty and promote fair access to pipelines, terminals and other infrastructure.

Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, also stressed the importance of private investment in gas processing, transportation, distribution, LPG, CNG and petrochemicals.

He said government could not develop the gas sector alone and would need continued collaboration with investors, financial institutions and technology providers.

Stakeholders at the summit identified financing challenges, infrastructure gaps, regulatory issues and limited technical capacity as some of the barriers that need to be addressed to attract more investment.