The Federal Government has renewed its strong commitment to accountability and transparency in managing the Frontier Exploration Fund. Determined to restore trust, it vowed to hold everyone responsible for any misuse of the fund.
Speaking in Lagos at the 43rd Annual Conference of the Nigerian Association of Petroleum Explorationists (NAPE), the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, warned that public money must serve national goals. He stressed that no one would escape responsibility for diverting funds meant for exploration and growth.
The Frontier Exploration Fund, managed by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), supports exploration in undeveloped basins. It aims to boost reserves, create jobs, and strengthen energy security. However, irregularities in the fund’s use have raised serious concern. To address this, the government is now increasing oversight and tightening control.
Lokpobiri explained that effective use of the fund is vital for economic progress. With proper management, the fund can attract investors, stimulate industrial growth, and unlock new opportunities across frontier regions. He noted that the Tinubu administration is determined to ensure every project delivers clear results and value to citizens.
Furthermore, the minister called for stronger collaboration between NUPRC and other regulatory bodies. Through joint monitoring, strict audits, and transparent reporting, he said, the government would rebuild confidence in the oil and gas sector. These actions align with President Bola Ahmed Tinubu’s broader reforms to strengthen institutions and promote integrity.
Lokpobiri also emphasized that responsible management of the Frontier Exploration Fund will help Nigeria compete globally. Efficient exploration creates new reserves, supports local businesses, and drives community development. He added that accountability is not just a principle—it is a pathway to growth and sustainability.
Industry stakeholders at the event backed the minister’s position. They agreed that strict oversight would attract credible investors and encourage innovation. Many highlighted that when governance improves, exploration projects yield better returns and public trust grows stronger.
Additionally, the minister reaffirmed the Federal Government’s dedication to reforming the upstream sector. He said ongoing policies focus on balancing exploration with environmental protection, regional inclusion, and job creation. These reforms, he explained, reflect the Renewed Hope Agenda’s goal of sustainable national growth.
By tightening controls, enforcing transparency, and demanding results, the government seeks to transform the Frontier Exploration Fund into a model of good governance. Lokpobiri noted that each naira must work for citizens by financing exploration, supporting industries, and creating jobs.
In conclusion, the government’s renewed vigilance marks a turning point for Nigeria’s energy industry. With stronger systems, open reporting, and firm leadership, the Frontier Exploration Fund will drive discovery, accountability, and shared prosperity.
