Abuja: Nigeria has the potential to double investment in its energy sector within the next five years, International Energy Agency (IEA) Executive Director Fatih Birol has said.
Birol said Nigeria’s new status as an IEA associate member could open the door to greater international investment, stronger technical cooperation and increased participation in global energy policy discussions.
He said the country has significant opportunities across oil, natural gas and renewable energy, but unlocking its full potential will require sustained investment and improved energy infrastructure.
Nigeria, one of Africa’s major oil and gas producers, is seeking to attract fresh capital to expand production, strengthen refining capacity and improve electricity supply. The country is also looking to increase the role of renewable energy, particularly solar power, as it works to address growing domestic energy demand.
Birol’s comments signal growing international interest in Nigeria’s energy sector at a time when the country is seeking to position itself as a major player in the global energy market.
The IEA’s cooperation with Nigeria is expected to provide access to technical expertise, policy support, energy data and international investment networks, potentially helping the country accelerate development across its energy industry.
Nigeria’s associate membership could therefore mark a significant step toward attracting larger investments and strengthening the country’s influence in international energy discussions.
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