Lokpobiri says Trump’s return will decelerate ‘hypocritical’ global energy transition narrative

Heineken Lokpobiri, minister of state for petroleum resources (Oil), says the return of Donald Trump as United States (US) president will decelerate the “hypocritical” global energy transition narrative.

Lokpobiri spoke on Monday during the opening ceremony of the Nigerian Pavilion, hosted by the Petroleum Technology Association of Nigeria (PETAN), at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, US.

The theme of the 2025 PETAN conference is “Africa’s Energy Renaissance: Leveraging Innovation and Natural Gas for Sustainable Development”.

Lokpobiri said the energy transition narrative has put Africa at a disadvantage.

According to the minister, the current global conversation around energy transition is heavily shaped by geopolitical interests.

He urged African countries to form a united front in tackling energy poverty, adding that fragmented approaches will not address the continent’s growing energy deficit.

Lokpobiri also said the African Petroleum Producers Organisation (APPO) was established to foster regional collaboration and develop shared solutions to the continent’s energy challenges.

In December 2023, Mele Kyari, the former group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, called for a just and differentiated energy transition.

Speaking at the sidelines of the 28th United Nations climate change conference (COP28) in Dubai, United Arab Emirates (UAE), Kyari said what should be addressed first is Africa’s energy poverty.

‘AFRICAN ENERGY BANK TO BEGIN OPERATIONS IN Q2’

In response to the challenge, he announced that APPO is in the process of establishing the African Energy Bank (AEB) to bridge funding gaps and ultimately free the continent from energy poverty.

“This is an opportunity to let you know that your concerns are gradually being addressed,” the minister said.

“As members of APPO, we are in partnership with Afreximbank, which during our last meeting disclosed that it has an exposure of nearly $14 billion.

“This amount, along with an additional $5 billion as the initial take-off capital, will be transferred to the African Energy Bank — bringing the total to over $19 billion.”

He said the bank is expected to commence operations within the current quarter and called on African nations to repatriate foreign-held investments to strengthen the initiative.

During a bilateral meeting on the sidelines of the conference, Lokpobiri advised Ghana to learn from Nigeria’s early experiences in the energy industry.

In his address, John Abdullahi, Ghana’s minister of energy and green transition, acknowledged Nigeria’s leadership in the region.

He noted that although Ghana is still emerging in the oil and gas industry, the country is keen to draw lessons from Nigeria’s reforms, particularly in local content development and climate-related policies.

“We will continue to consult Nigeria as we build a successful oil and gas industry,” Abdullahi said.

“The collaboration between both countries remains strong.”

‘OTC REMAINS STRATEGIC FOR NIGERIA’

In his remarks, Wole Ogunsanya, chairman of PETAN, said OTC 2025 will amplify Africa’s growing relevance in the global energy sector.

Ogunsanya said the Nigerian Pavilion will bring together top-tier industry leaders, policymakers, and stakeholders.

He recalled that two decades ago, the Nigerian National Petroleum Corporation (NNPC) tasked PETAN with coordinating Nigeria’s participation at OTC with the primary objective of attracting investment and fostering strategic partnerships.

Ogunsanya stressed the need for Nigeria to continue building capacity and creating value across the oil and gas value chain.