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The Nigerian government has urged the United Arab Emirates (UAE) to consider investing in the modernization and rehabilitation of Nigeria’s aging oil pipeline infrastructure, which has surpassed its intended lifespan of over 50 years. Speaking at a meeting with a delegation from the UAE led by Ambassador Salem Al Shamsi, Nigeria’s Minister of State for Petroleum (Oil), Heineken Lokpobiri, emphasized the critical need for investment in upgrading these essential facilities.

Lokpobiri highlighted the significant investment opportunities available in Nigeria, particularly in the renewal of oil pipelines. He stressed that despite ongoing discussions about shifting away from crude oil drilling, Nigeria remained committed to its exploration activities. Addressing the delegation, Lokpobiri underscored the potential for UAE investors to recoup their investments through pipeline infrastructure projects.

The minister outlined attractive investment models, assuring potential investors that they would receive returns proportional to their contributions. He emphasized Nigeria’s vast gas reserves, noting the country’s potential for substantial growth in both gas and crude oil production. Lokpobiri expressed confidence in Nigeria’s ability to increase its reserves through ongoing drilling campaigns and streamlined processes, facilitated by recent legislative reforms.

Regarding bilateral cooperation, Lokpobiri affirmed Nigeria’s commitment to leveraging its membership in the Organization of the Petroleum Exporting Countries (OPEC) to strengthen ties with the UAE. He emphasized the immense investment opportunities in Nigeria’s oil and gas sector, emphasizing the country’s openness to foreign investment.

The minister also addressed the bureaucratic challenges that had previously hindered investment projects, citing recent reforms aimed at enhancing efficiency and transparency. He welcomed the resolution of visa issues between the two countries, signaling a positive step towards deeper collaboration.

In a related development, Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company, announced plans to replace the aging petroleum products pipeline network within three years. Kyari emphasized the importance of modernizing infrastructure to ensure efficient transportation of petroleum products across Nigeria.

Altogether, the discussions between Nigerian and UAE officials underscored a shared commitment to sustainable energy exploration and cooperation. Both parties recognized the need for strategic partnerships to address evolving challenges in the energy sector while capitalizing on emerging opportunities for investment and growth.