Nigeria Joins IEA as Crude Output Hits Six-Year High

Nigeria's energy ambitions are gaining momentum as the country joins the International Energy Agency (IEA) as an Association member. In June, Nigeria secured membership with the IEA Governing Board, solidifying its position as a major energy player in Africa. The move reflects Nigeria's strategic importance in the global energy landscape and the confidence that the IEA has placed in the country's commitment to international cooperation.

Nigeria's crude oil production hit a six-year high in June, averaging 1.56 million barrels per day (bpd). Total crude oil and condensate production rose for the fourth consecutive month to 1.74 million bpd, driven by stable production operations and the absence of pipeline outages.

Nigeria's membership with the IEA will provide access to institutional knowledge, intellectual resources, and expertise in support of its energy ambitions. The country aims to achieve carbon neutrality by 2060 through its Energy Transition Plan (ETP), which includes developing 277 GW of total installed capacity and over 104,000 mini-grids by 2030.