By Peter Omopo
Abuja | July 2, 2025 — The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has criticised the National Assembly for what he described as frequent and unnecessary summons of International Oil Companies (IOCs), warning that the practice threatens investor confidence and could undermine Nigeria’s economic stability.
Speaking at the opening session of the Nigeria Oil and Gas Conference and Exhibition (NOG 2025) in Abuja on Tuesday, Lokpobiri expressed concern over the negative signals such legislative actions send to the international business community.
“More often than not, these summons, especially when issued without proper engagement with the Ministry of Petroleum Resources, create the impression of regulatory instability,” the minister said. “They escalate quickly to the global headquarters of these companies, raising reputational concerns and discouraging investment.”
Lokpobiri, who once served in the Senate nearly two decades ago, said lawmakers must understand the global ramifications of their oversight activities, particularly in the highly sensitive petroleum sector.
“I was a senator 18 years ago. I served on the upstream and downstream committees. We were aware of the consequences of certain actions. When you summon oil companies over issues from 15 or 20 years ago without first seeking clarification, it sends the wrong message,” he explained.
He further noted that in the countries where these IOCs are headquartered, legislative summons are taken seriously and interpreted as signs of potential risk, which could trigger stalled investments or capital flight.
“These multinational companies operate in countries where parliament has weight. When Nigeria’s parliament sends a summons, it’s not seen as routine — it’s seen as a serious regulatory issue,” Lokpobiri stressed.
The minister urged lawmakers to adopt a more collaborative and consultative approach with relevant ministries before issuing summons, particularly on legacy issues, to avoid derailing the government’s efforts to attract foreign direct investment into the oil and gas sector.
NOG 2025 continues this week in Abuja, bringing together industry stakeholders to discuss the future of Nigeria’s energy transition, investment climate, and regulatory reforms.
