Nigeria Taps IEA Membership for Energy Investment Boost
Nigeria's energy sector could see significant investment growth after the country joined the International Energy Agency (IEA) as an associate member, according to IEA Chief Fatih Birol.
Birol said that Nigeria's membership would help attract investment, deepen technical co-operation, and give Africa's largest oil producer a stronger voice in global energy policy discussions.
He aimed to double the country's energy investments within five years, citing Nigeria's resource base and shifting global energy trade patterns as key factors in attracting capital from governments and private investors.
Nigeria needs substantial capital to unlock opportunities across oil, gas, and renewable energy, particularly solar power, Birol noted. He described Nigeria as a credible energy supplier and highlighted the role of the Dangote refinery in easing fuel supply pressures in Europe.