Nigeria and IEA have signed an agreement to strengthen the energy sector.
Glamtush reports that Nigeria and the International Energy Agency (IEA) have signed an agreement for a Joint Work Programme to strengthen strategic partnership in the development of data for energy policy and investment across the value chain for economic growth and energy security.
This is just as the Vice President, Senator Kashim Shettima, said Nigeria’s formal admission into the IEA as an association country is a significant milestone for the country and another testament to the gains of the economic reforms of the administration of President Bola Tinubu.
Speaking on behalf of President Tinubu on Thursday during the signing of the agreement for the JWP between Nigeria and IEA, signaling the formal commencement of the partnership, the Vice President noted that Nigeria’s formal entry into the fold of the Paris-based non-governmental organisation justifies his administration’s policy choices and efforts aimed at leveraging the country’s abundant energy resources scattered across the nation.
Commending the IEA for the important role it is playing in shaping the global energy landscape, he said the effort of the agency in the global energy conversation and in supporting countries to navigate the challenges of energy security, affordability, sustainability and economic development cannot be overstated.
“Nigeria’s admission as an association country with the IEA is a significant milestone for our country, and it reflects Nigeria’s strategic importance in the global energy landscape and the confidence that IEA has placed in our commitment to constructive international energy cooperation,” said Shettima in a statement by media aide, Stanley Nkwocha.
He added that given Nigeria’s potential, “the country will benefit from IEA’s institutional knowledge, the intellectual resources, the reach and expertise to support our nation’s ambitions in this sector.”
He acknowledged Nigeria’s abundant renewable energy resources and his commitment to repositioning the economy by leveraging available resources, which are already manifesting across different sectors of the economy.
The Vice President also assured the IEA team of the Tinubu administration’s commitment to continue to partner with other stakeholders within the setting to contribute to the global energy debate on a fair and just energy transition.
Earlier, the leader of the IEA delegation, Fatih Birol, explained that the agency is an organisation of governments that covers all technological fields, including oil, gas, solar, nuclear power, artificial intelligence and electric cars, based in Paris.
Working with the top 500 energy experts in the world in terms of giving policy advice, sharing data and expertise, he said joining the IEA family is not an easy task, as it requires a lot of considerations and tests.
According to Birol, after detailed discussions with the Minister of State for Petroleum and Gas, Ekperikpe Ekpo, the board comprising the governments of the United States, Japan, Germany, Italy, and the UK voted and accepted Nigeria unanimously as a member.
“The IEA will accompany the Nigerian energy sector for the next few years to come for a much better energy future. We will provide policy advice from clean cooking to gas markets, from gas markets to training Nigerian experts at the IEA on our own,” he was quoted as saying.
Earlier, Minister of State for Petroleum Resources (Gas) said that Nigeria’s admission into the IEA was based on the performance of the Tinubu administration reflected in the reforms undertaken in the economy.
He said the signing of the Joint Work Programme portends the involvement of the technical team of the IEA with Nigeria in the development of data for energy policy and investment across the value chain, targeted for economic growth and energy security.
On his part, the Minister of State for Foreign Affairs, Sola Enikanoaiye, described IEA’s partnership with Nigeria as strategically important, noting that the Nigerian Mission in Paris played a critical role in ensuring its success.
Also, the Director General of the Energy Commission of Nigeria, Mustapha Abdullahi, said the Commission’s relationship with the IEA led to the joint sponsorship of Nigeria’s last National Energy Master Plan, even though there was no structure to their relationship.
He expressed optimism that Nigeria’s formal joining of the IEA and the agreement will strengthen the Commission’s relationship with the organisation.
