Nigeria’s Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, announced that the federal government will implement drone and satellite surveillance to combat oil theft in the Niger Delta. Speaking to the Oil Producers Trade Section (OPTS) at the Cross Industry Group meeting in Istanbul, Turkey, Lokpobiri urged industry players to support Nigeria’s goal of increasing crude oil production by over one million barrels per day within the next two years.
Lokpobiri reaffirmed the government’s commitment to hosting the headquarters of the $5 billion Africa Energy Bank (AEB), after Nigeria’s successful bid in July 2024. “We are prepared to host the AEB, and our dedication to enhancing funding for Africa’s energy sector remains unwavering,” he stated. Lokpobiri also shared that Nigeria has contributed $69.1 million in equity funding to the bank, underscoring its leadership role in advancing energy initiatives on the continent.
Emphasising the importance of metering crude pipelines, Lokpobiri said it would allow accurate monitoring of daily production. “Technology-driven solutions, including drone and satellite surveillance, will enhance our security framework,” he noted. In addition to high-tech measures, the government is working closely with the Nigerian Navy and the Joint Task Force (JTF) to protect Nigeria’s oil infrastructure.
Lokpobiri also outlined Nigeria’s dual approach to energy: maximising short-term revenue from crude oil while advancing natural gas and renewable energy projects. “The world is moving toward cleaner energy, and Nigeria must be part of that transition,” he said. To remain competitive, the government is implementing reforms, including the 2024 Value Added Tax (VAT) modification order and tax incentives for deep offshore oil production.
The federal government recently launched bids for 31 oil and gas blocks to drive development, with incentives such as reduced entry barriers and signature bonuses to attract investors. Lokpobiri stressed the need for commitment from industry players: “We cannot afford to hold valuable fields in perpetuity. It’s either you put them to work or relinquish them. The era of renewing licenses without development is over.”
Lokpobiri called on African Petroleum Producers’ Organisation (APPO) member countries to support the Africa Energy Bank by expediting their subscription and payment of allocated shares. “Together, we can achieve remarkable advancements in our energy sectors and establish ourselves as a continental energy hub,” he concluded.
