Nigeria’s Minister of States for Petroleum Resources (Oil) Heineken Lokpobiri has stated that Nigeria has nothing to lose as international oil companies are divesting.

Lokpobiri revealed this at the Nigerian Content Development and Monitoring Board’s PNC conference in Yenagoa, Bayelsa State, said the country has nothing to be afraid of as a result of the divestments.

He explained that the divestments are not from foreign companies but are being relocated from onshore to offshore.

The assets vacated by the divestments are being taken over by local operators, ensuring sustainability in Nigeria’s growth.

Lokpobiri also mentioned that no company is leaving Nigeria, but rather they are going deep offshore.

He emphasized that Nigeria is a clear country that will provide leadership and share its experience, knowledge, and technological development with other African countries to grow Africa.

He urged the NCDMB Executive Secretary, Felix Ogbe, to redouble his efforts to sustain the gains made so far, stating that the gains made in the past decade are making other African countries come to Nigeria to study how to develop local capacity.