Nigeria has raised crude oil production from one million to 1.8 million barrels per day and aims to reach 2.5 million barrels per day, marking a significant boost in output.

At the Africa Energy Investment Summit in New York, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said American companies are showing strong interest in Nigerian oil blocks, highlighting the role of strategic partnerships in meeting production targets. He stressed that fossil fuels remain essential to Africa’s energy transition. “Africa must not abandon hydrocarbons while Western nations continue expanding their production,” he said.

Antonio Oburu Ondo, Equatorial Guinea’s Minister of Hydrocarbon Mining Development, representing Vice President Nguema Obiang Mangue, urged African nations to strengthen control over energy resources. Noting that Africa holds 40 percent of the world's natural resource discoveries yet relies on foreign financiers, he proposed an African Energy Bank and the mobilization of sovereign wealth and pension funds.

Omar Farouk Ibrahim (PhD), Secretary General of the African Petroleum Producers Organisation (APPO), stated that the summit connects governments with global investors, unlocking sustainable financing and fostering collaboration among leaders, financiers, and energy players.