Petroleum Minister Lokpobiri Refutes Allegations of Frontier Exploration Fund Diversion
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, issued the clarification following reports claiming that the Federal Government intended to probe alleged diversion of the Fund. The reports, which PulseNets learnt had circulated widely across industry platforms, were described as “inaccurate and misleading.”
A statement from the Minister’s media office has clarified that he never announced — nor suggested — any investigation into the Frontier Exploration Fund during his remarks at the 43rd Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.
According to information obtained by PulseNets from his Special Assistant on Media and Communication, Nneamaka Okafor, the Minister only stressed the need for “the optimal and purposeful deployment of the Frontier Exploration Fund as mandated by the Petroleum Industry Act (PIA).” At no time, she noted, did he insinuate any form of investigation.
The clarification explained that Senator Lokpobiri’s comments focused on the urgent necessity of accelerating exploration activities in key frontier basins, including Chad, Anambra, Sokoto, Benue, and other underexplored regions.
In the statement made available to the newsroom, Okafor emphasised that “the Minister’s position was simply to encourage renewed commitment to the objectives of the Frontier Exploration Fund — not to allege misconduct or announce a probe.”
Lokpobiri further highlighted that the Fund remains a strategic national instrument for unlocking Nigeria’s vast hydrocarbon prospects. He underscored that it must be diligently channelled to stimulate investment, deepen exploration activities, and strengthen the country’s long-term energy security.
He reaffirmed the administration’s dedication to transparent and accountable governance, saying the government maintains an “unwavering commitment to transparency, accountability, and efficiency in managing all public funds, especially within the petroleum sector.”
Established under the PIA, the Frontier Exploration Fund was designed to support new oil exploration in frontier basins such as Chad, Sokoto, Anambra, and Benue — areas long considered underexplored but potentially rich in hydrocarbons.
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Senator Lokpobiri also restated his earlier position: “Under the PIA, the Frontier Exploration Fund domiciled with the NUPRC must be used strictly for its intended purpose.”
He added that since assuming office, insufficient attention had been given to deploying the Fund toward advancing exploration in Nigeria’s yet-to-be fully tapped basins — a situation he is now pushing to correct.
