The Minister of State, Petroleum (Oil), Senator Heineken Lokpobiri, yesterday said that with the recent commitment to fostering inclusive growth in the oil and gas industry and creating space for everyone, the time for excuses is over, and now is the time to make serious and bold decisions.

Lokpobiri spoke at the 5th edition of the Nigeria Oil and Gas Opportunity Fair (NOGOF), at the headquarters of the Nigeria Content Development and Monitoring Board (NCDMB), in Yenagoa, the Bayelsa State capital.

He said that through President Bola Tinubu’s hope agenda, the industry has adopted a bold transformation agenda across the oil and gas sector, which focuses on reengineering Nigeria’s energy value chain, making it more efficient, inclusive, and significantly more attractive to both global and local investors.

Building on this, he said the President has approved key reforms through the executive orders that are already catalysing momentum, eliminating red tape, accelerating project approvals, and restoring investor confidence.

This, the Minister said, is a new era—one where Nigeria is not begging for investments, but offering bankable, de-risked, and sustainable opportunities in Africa’s most dynamic energy landscape.

Speaking on the theme, *”Driving Investment and Production Growth: Shaping a Sustainable Future for Nigeria’s Oil and Gas Industry Growth Through Indigenous Capacity Development,”* Lokpobiri said it shared three interconnected pillars, which include the drive for increased investment.

“The time for excuses is over, the time for serious and bold decisions is now. Under this administration of President Bola Tinubu, we are making the oil and gas sector a platform for economic growth, economic justice, and national security. To achieve this, we must be united in purpose, confident in our capacity, and committed to sustainable growth.

“In my view concerning the theme, which I’m confident many here share, it emphasizes three interconnected pillars: first, the drive for increased investment, which is critical to unlocking new exploration, reviving dormant assets, and modernizing infrastructure across the oil and gas value chain; second, the imperative of boosting crude oil production to stabilize our economy, strengthen reserves, and enhance energy security; and third, the strategic focus on indigenous capacity development, ensuring that Nigerian expertise, enterprises, and innovations are central to the sector’s growth.

Therefore, Driving Investment and Production Growth: Shaping a Sustainable Oil and Gas Industry through Indigenous Capacity Development is not just a statement; it is a clear call to action—a call to rethink how we produce, how we partner, and how we build—not just for today’s energy needs, but for Nigeria’s long-term prosperity.

“Guided by the renewed hope agenda of President Tinubu, we have adopted a bold transformation agenda across the oil and gas sector. Our focus is on reengineering Nigeria’s energy value chain, making it more efficient, inclusive, and significantly more attractive to both global and local investors.

“The Petroleum Industry Act (PIA) has already laid a strong foundation by streamlining our regulatory framework, improving fiscal terms, and enhancing operational transparency. Building on this, the President has approved key reforms through the executive orders that are already catalysing momentum, eliminating red tape, accelerating project approvals, and restoring investor confidence.”

“Let me be clear: NOGOF is not just a fair; it is a national platform that fosters catalytic investments. The opportunities being showcased during this event are not theoretical wish lists; they are real, vetted, and ready for implementation.

“They represent multi-billion-dollar opportunities across upstream, midstream, and downstream sectors. They cut across oil processing, pipeline construction, marginal field development, refining, and logistics. And embedded in every project is a local content dimension—a promise to create jobs, build skills, and retain value within our borders.”

In his opening address, the Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe, said today, Nigerian content has moved from aspiration to execution.

From well-equipped, ISO-certified fabrication yards in Port Harcourt, Warri, and Lagos to modular refineries in Imo and Delta States, and from pipe mills to marine vessel ownership, he said, Nigerians are not just participating but are delivering at the highest level.

Ogbe highlighted the significance of NOGOF 2025, saying it coincides with 15 years of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010.

According to him, the event will showcase opportunities in the entire oil and gas value chain as well as enable local and foreign investors to build synergies in the industry and provide shareholders with credible information on upcoming projects.

“Following the establishment of the Board, we created a 10-year roadmap to deepen local participation and increase the participation of Nigerians in the activities of the oil and gas industry. Today, we have moved from 5% in-country value retention in 2010 to 56% in December 2024.”

In his address, the Bayelsa State Governor, Senator Douye Diri, called on the National Assembly to review the Petroleum Industry Act (PIA) to enable state governments in oil-producing areas to play statutory roles in overseeing development projects in host communities.

Senator Diri, who was represented by his deputy, Senator Lawrence Ewhrudjakpo, noted that while the extant PIA empowers oil and gas-bearing communities to directly receive oil proceeds accruing to them without recourse to state governments, hostilities emanating from the management of such funds are always being channeled to the government for settlement.

According to him, bringing governments of oil-bearing states on board will do a whole lot of good in the planning and implementation of community development projects because most of the communities lack the capacity to deal with such investments.

His words: “The current PIA does not give any responsibility to the state government but rather a lot of liabilities. When the IOCs bypass the state government and deal directly with our communities, which unfortunately do not have stable and reliable structures to handle such investments, it gives room for hostilities.

“Our call is on the National Assembly to look at the possibility of rejigging the PIA to prescribe statutory roles for host governments. Also, the attitude of the IOCs is not different from the indigenous oil firms that have taken over their assets.”