Nigeria’s oil and gas investment drive has received a major boost, as TotalEnergies announced additional capital commitments to the country, a move the government says reflects renewed investor confidence under the Tinubu administration’s reform agenda.
The President of TotalEnergies, Exploration and Production, Mr Nicolas Terraz, disclosed the new investment plan during a visit to the Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, in Abuja. TotalEnergies remains one of Nigeria’s largest upstream investors, with major interests across deepwater oil, gas, and LNG infrastructure.
Mr Terraz said the company was encouraged by the improved operating environment and the federal government’s push to stabilise and expand the oil sector.
Mr Terraz and his delegation also thanked the Ministry for its ongoing engagement with international oil companies, saying the collaboration had improved operational efficiency and unlocked new opportunities in deepwater and gas development
The Minister, in a statement issued on X, welcomed the announcement, describing TotalEnergies as one of Nigeria’s most reliable upstream partners.
“I commend TotalEnergies for their longstanding, productive relationship with Nigeria,” Lokpobiri said. “Their additional investments strongly align with our expectations of operators under the Renewed Hope administration.”
Mr Lokpobiri noted that the government’s efforts to remove bottlenecks and rebuild regulatory clarity were beginning to yield tangible results.
“The Renewed Hope administration has worked tirelessly to make industry activities seamless, transparent, and mutually beneficial through incentives and reforms,” he said. “We are restoring confidence in Nigeria’s oil and gas sector.”
Mr Lokpobiri assured the delegation that the Ministry will continue to support all serious operators willing to invest and grow their footprint in Nigeria.
“We are committed to working with partners who believe in Nigeria’s long-term potential,” he said.