The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has expressed strong concerns over the frequent summons of International Oil Companies (IOCs) by committees of the National Assembly (NASS), warning that such actions are detrimental to investor confidence and Nigeria’s economic stability.
The minister said this at the Nigeria Oil and Gas Conference and Exhibition (NOG 2025) in Abuja.
Lokpobiri said the recurring legislative summons send troubling signals to foreign investors and risk undermining the country’s petroleum sector, which remains central to the national economy.
Lokpobiri decried, “These summons resonate in their global headquarters. In those countries, they also have parliaments, and they understand the weight of such actions.”
He noted that often, the Ministry of Petroleum Resources is not consulted before such invitations are issued, even when the matters involved are decades old.
“It is not even a summons by the Committee on Oil and Gas, but by the Committee on Procurement, over procurement issues that happened 18 years ago,” he said.
The oil minister questioned the rationale behind revisiting procurement matters that date back nearly two decades.
“What is your business with an IOC over procurement matters from 18 to 20 years ago?” he asked.
The minister stressed that the oil and gas industry remains Nigeria’s economic backbone, contributing over 80 per cent of the country’s export earnings, and must be treated with strategic care.
“Nigeria still depends on this industry for survival. Whatever happens, the ministry should be contacted for clarification instead of rushing to summon IOCs,” he said.
Recounting his own experience as a legislator, Lokpobiri said, “I was a Senator 18 years ago.
“I was the youngest Senator during my time and served on several committees, including upstream and downstream. We knew the consequences of some of these actions.”
He explained that parliamentary summons on sensitive matters—especially procurement—are often escalated to the global offices of the affected oil companies, creating reputational and regulatory concerns that can result in capital flight or stalled investments.
“More often than not, such actions send a wrong message abroad, threaten investor confidence, and undermine Nigeria’s economic stability,” the minister warned.
He urged lawmakers to exercise caution and ensure due process and inter-agency coordination before taking actions that could damage Nigeria’s investment profile.