Nigeria to Boost Energy Investments with IEA Partnership

Nigeria is poised to potentially double its energy sector investments within the next five years, as indicated by Fatih Birol, the Executive Director of the International Energy Agency (IEA), during his visit to Abuja. This follows Nigeria's admission as an Association country of the IEA and the signing of a new Joint Work Programme.

This partnership is expected to enhance Nigeria's access to technical expertise, international energy data, and global investment networks. Birol noted that recent global energy supply disruptions, particularly due to conflicts in Iran and Ukraine, have highlighted the importance of reliable energy producers like Nigeria, which has substantial oil, gas, and renewable energy resources.

Nigeria's admission to the IEA was approved unanimously by the agency's Governing Board in June and announced in July. The Joint Work Programme focuses on energy security, investment, energy data, energy efficiency, and clean cooking.

Vice-President Kashim Shettima and Minister of State for Petroleum Resources, Gas, Ekperikpe Ekpo, emphasized the significance of this partnership for Nigeria's energy infrastructure and production goals.