Nigeria has pledged to offer some of the world’s most competitive incentives to international oil and gas investors as part of its drive to restore confidence and boost production in the energy sector.

Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, gave the assurance in Abuja during a meeting with Vaalco Energy, an American independent oil and gas exploration company seeking to re-enter the Nigerian market.

Vaalco, which is listed on the New York Stock Exchange, has expressed interest in acquiring Svenska’s Production Sharing Contract in Oil Mining Lease (OML) 145. Its Managing Director, Pieter Van der Groen, described Nigeria as a key investment hub and stressed that the company was committed to developing any assets it acquires, rather than leaving them idle.

Senator Lokpobiri said the administration of President Bola Ahmed Tinubu was determined to create a stable investment climate that would encourage companies that had previously exited the country to return. He noted that Nigeria was now ready to match the best fiscal regimes in the global industry.

“It is gratifying when those who have worked here become ambassadors for Nigeria’s business climate. We are glad to welcome you back,” he said.

The minister assured the delegation that the government’s new policies provided fiscal stability, regulatory clarity, and frameworks designed to encourage long-term partnerships. He added that renewed investment from firms like Vaalco would help Nigeria ramp up oil production and achieve its national energy targets.