Lokpobiri Receives Congolese Counterpart, Says Local Firms Produce 60% of Nigeria’s Oil
• Insists Africa must solve its energy poverty problems from within Emmanuel Addeh in Abuja The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, yesterday said that Nigeria’s indigenous
Heineken Lokpobiri, Nigeria's Minister of State for Petroleum Resources, met with the Minister of Petroleum of the Republic of Congo, Stev Simplice Onanga, and his delegation in Abuja. Lokpobiri revealed that indigenous Nigerian oil and gas companies now contribute approximately 60 percent of the country's crude production. This shift in local content development has led to a significant increase in the retention of value within Nigeria, as the growth of indigenous participation has significantly reduced the share of international oil companies (IOCs) in the production.
The minister credited deliberate local content policies and the divestment of international oil companies' assets to Nigerian operators for this increase. The Minister of Congo expressed interest in studying Nigeria's local content policy and implementation to benefit from the experience in improving local content in his own country.
Both ministers expressed optimism that the exchange could strengthen African cooperation in the oil and gas sector.
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