Nigeria Eliminates Briefcase Companies in Oil Sector Reform

Heineken Lokpobiri, the Minister of State for Petroleum Resources, stated that the Nigerian government has successfully eliminated "briefcase companies" to create a level playing field for engineering procurement and construction (EPC) firms. This reform aims to eliminate middlemen who have previously distorted operations, discouraged investment, and constrained the growth of genuine operators in the oil and gas sector.

Lokpobiri emphasized that the reform agenda extends beyond attracting foreign players back to the market; it aims to build a balanced competitive ecosystem that fosters sustainable growth across the value chain. The government is introducing targeted incentives and enabling policies to ensure fair competition and long-term value creation.

These measures are designed to strengthen transparency, deepen local participation, and restore investor confidence in Nigeria's upstream and midstream contract environment, significantly reducing project costs and accelerating delivery timelines across the oil and gas value chain.