Nigeria’s energy investment may double in five years — IEA
Nigeria’s energy investment could double in five years, says IEA, following its associate membership. This will attract capital and strengthen its global e Read More: https://punchng.com/nigerias-energy-investment-may-double-in-five-years-iea/
Nigeria's energy investment could potentially double within five years, according to the International Energy Agency (IEA) Executive Director, Fatih Birol. Birol made the statement during a visit to Abuja, noting that Nigeria's association with the Paris-based energy agency would help attract investment, deepen technical cooperation, and strengthen the country's voice in global energy policy discussions.
Birol emphasized the need for substantial capital to unlock opportunities in the oil, gas, and renewable energy sectors, particularly solar power. He highlighted Nigeria's large energy resource base and changes in global energy trade patterns, which could position the country as an attractive energy partner for governments and private investors seeking reliable sources.
The IEA's Executive Director described Nigeria as a credible energy supplier, pointing to the Dangote Petroleum Refinery's role in easing fuel supply pressures in Europe. The refinery, processing 700,000 barrels of crude oil daily, supplies refined petroleum products to international markets. Nigeria became an IEA associate member in July, following approval from member countries, including the United States, Germany, Italy, and Japan.
The IEA and the Nigerian government are expected to sign a joint work program outlining cooperation in natural gas, electrification, clean cooking, energy efficiency, and energy data development.
Written by urgent.news from Punch's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
