Nigeria joins IEA, boosting global energy governance
Nigeria has joined global organisation the International Energy Agency (IEA), which deepens the IEA's cooperation with Africa’s most populous nation and marks a milestone for global energy governance.
The Governing Board of the IEA unanimously agreed for Nigeria to join the organisation as an association country.
As an association country, Nigeria and the IEA will work more closely across a range of energy issues, including on the agency’s engagement in sub-Saharan Africa.
“As Nigeria works to strengthen energy security, support economic growth and expand energy access, deeper cooperation with the IEA will bring important benefits for both sides. We look forward to building on our already strong partnership,” says IEA executive director Fatih Birol.
“Nigeria becoming part of the world’s energy authority marks a milestone for global energy governance,” he says.
Home to more than 240-million people, Nigeria is a major producer of oil and natural gas, is one of the continent’s most dynamic renewable energy markets and is one of Africa’s largest economies.
Simultaneously, it faces significant energy challenges, including expanding access to reliable and affordable energy services for millions of people who currently lack electricity and clean cooking solutions.
“I encourage the African continent to embrace the IEA, as we all work together to achieve key development goals, including universal energy access and industrialisation,” says Nigeria Petroleum Resources (Gas) Minister Ekperikpe Ekpo.
Nigeria’s growing role in international energy markets has been highlighted by recent developments in its refining sector. During recent periods of market disruption, increased fuel exports from Nigeria helped strengthen resilience in African and international fuel markets.
The country has also emerged as one of the world’s fastest-growing markets for decentralised solar solutions and is stepping up efforts to expand access to electricity and clean cooking, the IEA says.
Nigeria joins a network of 13 other association countries that work with the IEA to advance secure, affordable and sustainable energy systems worldwide.
As a result of this expansion, the IEA family’s share of global energy demand has increased to more than 80% from 40% in 2015.
The association programme allows the IEA to deepen ties with its partner countries, thereby bringing together major energy-producing and consuming countries from around the world.
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