The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has stated that Africa does not need loans but rather strategic partnerships and investments to address energy poverty and drive economic growth on the continent.
Lokpobiri made this statement on Tuesday in Abuja, at the 8th edition of the Nigeria International Energy Summit (NIES 2025), themed “Bridging Continents: Connecting Investors Worldwide with Africa’s Energy Potential.”
The minister said that strategic policies by President Bola Tinubu’s administration had proven Nigeria’s readiness and commitment to business.
“In January at Davos, I was in a panel with eight other ministers of different parts of the world, and one of the ministers said that Europe has about 300 billion euros available for loans to Africa.
“I suggested to them that we don’t need loans; rather, we need investments; we need partnerships. Invest and then make your returns instead of giving us loans.
“I can assure you that the world is ready to invest in Africa; the world has recognised that Africa has enormous resources, but these resources have no value unless we are able to bring them to the market,” Lokpobiri said.
