Nigeria and the International Energy Agency have signed an agreement for a Joint Work Programme to strengthen cooperation in energy data, policy development and investment.
The agreement was signed at the State House in Abuja on Thursday.
It marks the formal commencement of the partnership between Nigeria and the Paris-based energy organisation.
Shettima Describes Partnership as Milestone
Vice President Kashim Shettima, who represented President Bola Tinubu at the event, described Nigeria’s formal admission into the IEA as an Association Country as a significant milestone.
He said the development reflected the gains of the administration’s economic reforms.
According to Shettima, the partnership would help Nigeria make better use of its energy resources and strengthen the contribution of the sector to economic growth.
He also said the agreement would support the development of reliable data for energy policy and investment decisions.
Focus on Energy Data and Investment
The Joint Work Programme is expected to strengthen cooperation between Nigeria and the IEA across the energy value chain.
Its focus includes energy data, policy analysis and investment planning.
Reliable data is important for governments, investors and industry operators.
It helps stakeholders understand energy demand, identify investment opportunities and develop policies that respond to changing market conditions.
The agreement could therefore support more informed decisions across Nigeria’s oil, gas, electricity and renewable energy sectors.
Energy Security Remains a Priority
Shettima commended the IEA for its role in shaping the global energy conversation.
He said the agency’s work in helping countries address energy security, affordability, sustainability and economic development could not be overstated.
Nigeria continues to face challenges relating to energy access, power supply and infrastructure development.
Consequently, stronger international cooperation could provide technical support and improve the country’s ability to respond to these challenges.
Nigeria Seeks to Maximise Energy Resources
Nigeria has continued to emphasise the importance of using its energy resources to support industrialisation and economic development.
The country has significant oil and gas resources, as well as opportunities in renewable energy.
However, unlocking these opportunities requires investment, effective policies and reliable infrastructure.
The new partnership with the IEA is expected to support Nigeria’s efforts to develop a more efficient and sustainable energy system.
Balancing Growth and Sustainability
The agreement comes at a time when countries are seeking to balance energy security with environmental sustainability.
Nigeria must expand energy access while also responding to global concerns about emissions and climate change.
The IEA partnership could support the development of policies that address both economic and environmental priorities.
It may also help Nigeria attract investment into cleaner technologies and more efficient energy systems.
Outlook for the Partnership
The Joint Work Programme provides a framework for closer cooperation between Nigeria and the IEA.
Its success will depend on the implementation of agreed activities and the ability of stakeholders to translate technical cooperation into practical results.
For Nigeria, the partnership offers an opportunity to strengthen energy planning and improve the role of the sector in national development.
