The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has criticised the frequent summons of International Oil Companies (IOCs) by the National Assembly on what he described as unnecessary issues.
Lokpobiri noted that such actions often send the wrong signals internationally, threaten investor confidence, and undermine Nigeria’s economic stability.
He made these remarks while declaring open the ongoing Nigeria Oil and Gas Conference and Exhibition, tagged NOG 2025, in Abuja, monitored by our reporter.
The minister faulted the lawmakers for summoning oil companies over matters dating back nearly two decades, without first seeking clarification from the Ministry of Petroleum Resources, and called for caution.
He stated, “I was a Senator 18 years ago. I was the youngest Senator at the time and served on several committees, including upstream and downstream. We understood the consequences of some of these actions.”
Lokpobiri explained that when parliamentary committees in Nigeria issue summons, particularly on procurement-related issues, they are quickly escalated to the global headquarters of the affected companies, creating reputational and regulatory concerns that could result in capital flight or stalled investments.
“These summons resonate in their global headquarters. In those countries, they also have parliaments and understand the weight of such actions,” he added.
He stressed, “It is not even a summons by the Committee on Oil and Gas, but by the Committee on Procurement, over procurement issues that happened 18 years ago.”
He questioned, “What business do you have with an IOC over procurement matters from 18 to 20 years ago?”
Lokpobiri warned that the oil and gas sector remains Nigeria’s economic lifeline, contributing over 80 per cent of the country’s export earnings, and must be managed with strategic care.
“Nigeria still depends on this industry for survival. Whatever happens, the ministry should be contacted for clarification instead of rushing to summon IOCs,” he advised.
On Nigeria’s current crude oil production, he disclosed that the country is producing about 1.745 million barrels per day, including condensates.
Emphasising the need to boost production, Lokpobiri said, “The question is, what is the solution to ramp up production?
“We still want to be strategic and important members of the global energy community, but we have no choice but to ramp up our production.
“We need to find a solution; that is the only way we will meet both domestic and international demand,” he said, pointing out that the country needs revenue to address various needs for the benefit of its citizens.
