Nigeria’s Minister of State for Petroleum Resources, Heineken Lokpobiri, delivers a clear message about Africa’s real needs.
Speaking at the 8th edition of the Nigeria International Energy Summit (NIES 2025) in Abuja, Senator Heineken Lokpobiri emphasized the Bola Tinubu administration's commitment to fostering a business-friendly environment.
The summit, themed "Bridging Continents: Connecting Global Investors to Africa’s Energy Potential," provided a platform for the minister to advocate for direct investment rather than debt-based financing.
"In January at Davos, during a panel discussion with eight other ministers, one of them mentioned that Europe had around €300 billion available for loans to Africa. I responded that we do not need loans, but investments and partnerships. Rather than lending us money, invest and then recover your returns," Lokpobiri stated.
The minister stressed that while Africa’s potential is globally recognized, its resources remain underutilized due to the lack of structured markets. He also highlighted the ongoing transformation of Nigeria’s energy sector, making the country more attractive to investors.
According to Lokpobiri, Nigeria is now seen as a prime business destination, which has facilitated the completion of four major divestments that had previously been stalled.
He urged African nations to join forces in bridging the technological and financial gaps that hinder the continent’s development.
