Nigeria champions regional energy integration to tackle $120bn Import Bill at Africa Oil Week 2025
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Nigeria’s Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, Ph.D, has reaffirmed Nigeria’s leadership role in advancing Africa’s energy security, calling for deeper regional integration at the Africa Oil Week (AOW) 2025 Ministerial and CEO Leadership Forum.
Sen. Lokpobiri, in a statement signed by Nneamaka Okafor, his Special Adviser on Media and Communication, stressed that integration remains the most effective strategy to end Africa’s energy poverty, noting that shared infrastructure, harmonized standards, and technical expertise will enable the continent to secure its energy future.
He highlighted Africa’s heavy reliance on imports, revealing that the continent spends over $120 billion annually on hydrocarbon imports. “This is capital flight. These funds should remain within Africa to fuel our own development priorities,” the Minister stated.
The Minister emphasized that the real challenge is not access to capital but the lack of aligned regulatory frameworks and fiscal regimes. “Investors make long-term decisions based on stability and predictability. Africa must harmonize its policies to attract and retain investment,” he said.
As part of Nigeria’s leadership drive, Sen. Lokpobiri announced the creation of a West African Reference Market (WARM)—an initiative to leverage Nigeria’s growing refining capacity to supply petroleum products across West Africa and beyond.
On the global energy transition, he clarified that the Paris Agreement does not require abandoning fossil fuels, but rather a reduction in emissions. “Africa contributes only 3% of global CO₂. We cannot lead an energy transition when we don’t even have energy. Our priority must be to responsibly harness our abundant resources to power growth,” he added.
Sen. Lokpobiri concluded by urging African nations to unite around a shared purpose: “Africa has the market, the population, and the resources. What we need now is to keep value within our continent and finance our own energy future.”
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