28 new FDPs approved in 2025 – Minister
The Minister for State, Petroleum Resources (Oil), Heineken Lokpobiri, said 28 new field development plans (FDPs) worth $18.2 billion were signed in 2025, with potential to unlock 1.4 billion barrels of oil daily.
Mr Lokpobiri disclosed this at the ongoing 9th edition of the Nigeria International Energy Summit (NIES 2026) in Abuja.
“In 2025 alone, 28 new field development plans worth $18.2 billion were signed, with potentials of 1.4 billion barrels of oil daily,” he said.
An FDP, a critical document in oil & gas development, provides a broad plan and guide on how to extract hydrocarbons from petroleum fields and manage the impact of such activities on the environment.
The minister explained that Nigeria possesses enormous hydrocarbons endowment, and a geography that combines deepwater, shallow, and onshore acreages.
According to him, resource richness alone is not enough.
“What makes Nigeria now different is the legal, regulatory, financial, and structural transformation we are delivering.
“Because “investment-ready” means more than just having reserves; it means having clarity, predictability, efficiency, incentives, and alignment,” he said.
Speaking further the minister said between 2024 and 2025, of the seven major Final Investment Decisions (FIDs) announced across Africa, four were in Nigeria.
“This did not happen by accident, it is the result of steady work, policy clarity, and better governance. These are not rhetorics but proof that Nigeria is once again a magnet for serious business. Our investment climate in Nigeria allows for free movement of capital.”
In line with global best practice, he said, companies can invest and divest at will.
“We recently enabled International Oil Companies (IOCs) to transfer onshore and shallow water assets to capable Nigerian companies. From Shell to Renaissance, ExxonMobil to Seplat, Eni to Oando,” he added.
These, he said, are not just transfers of assets, but of confidence, capability, and ownership which has resulted in additional 200,000 barrels per day.
Mr Lokpobiri said these divestments were stalled for several years, but with the leadership of President Bola Tinubu, “we were able to advance them and concluded them in record time leading to the gains made by their new operators for the benefits of all.”
These, according to him, are concrete, measurable results that send a strong signal to investors.
He said Nigeria is offering certainty, policy transparency, incentives, and large-scale opportunities.
“We are also strengthening refining and downstream capacity,” he said.
