Nigeria reaffirms commitment to energy access

(Abuja, Nigeria) — Nigerian President Bola Tinubu has reaffirmed the country’s commitment to providing affordable, secure cleaner energy, but which involves scaling up oil and gas infrastructure across the country.

Represented by the Vice President Kashim Shettima at the ongoing 9th Nigerian International Energy Summit (NIES 2026) in Abuja, President Tinubu said that when this administration assumed the mantle of leadership in May 2023, he inherited an energy sector rich in potential yet constrained by inefficiency, uncertainty and prolonged under-investment.

“We set to work with our partners guided by the clear understanding that energy cannot be treated simply as an economic commodity but stability which is our goal. Energy is a catalyst for national security, industrial growth, social inclusion and regional cooperation. We are therefore committed to building an energy system that delivers reliability, transparency, sustainability and shared prosperity.”

He further said, “From within Nigeria, we are positioned to meet the energy needs of the world. We need energy to keep the world alive. Crude oil and gas remain among our finest natural resources, and energy is central to peace and prosperity. It is a national priority and a cornerstone for sustainable development and global engagement.”

Earlier this week at NIES, Nigerian gas minister Ekperikpe Ekpo also positioned gas as the fastest path to industrial growth and inclusive economic development.

However critics of gas as a transition fuel would argue that it will lock countries in Africa into outdated infrastructure, create economic risk through stranded assets, and delay the adoption of cheaper, cleaner renewable energy.

Foreign Direct Investment

President Tinubu said foreign direct investment into the oil and gas sub-sector has improved significantly, driven by regulatory certainty and fiscal reforms.

“We also introduced a broad executive order on oil and gas investment, enabling us to unlock up to $10 billion in capital inflows, streamline project approvals, reduce bureaucratic delays, and position Nigeria as a prepared investment destination.

“In 2025, we introduced the Upstream Petroleum Operations Cost Efficiency Incentives Order, providing tax credits of up to 20 percent to promote cost efficiency, enhance competitiveness, and deepen Nigerian participation.

“As a direct result of the reforms we introduced, Nigeria’s average crude oil production improved to approximately 1.6 million barrels per day.”

President Tinubu called on the international community, service providers, and development partners focused on sustainable energy to leverage their platforms for dialogue to promote a balanced and diverse energy mix.

Energy access

In his welcome address, the Group Chief Executive Officer (GCEO) of Nigeria National Petroleum Corporation (NNPC) Limited, Bayo Ojulari, emphasised that the world is changing, with new technologies, climate concerns, demographic pressures and economic realities all reshaping it.

“It is about re-imaging societies, retraining people, retooling industries and redesigning global value chains for Africa. The challenge is uniquely complex. We face a trilemma, which are 1) challenges around energy accessibility, which is ensuring every citizen can access modern, reliable energy.

The second challenge is energy affordability, he said, ensuring that energy “does not become a luxury; is something that every home in Africa should access” and have available.

“And thirdly, energy sustainability around preserving our environment and safeguarding our future generations, balancing these three while still striving for growth, while still striving for job creation and industrial competitiveness, requires courage.”

Ojulari noted that Africa and Nigeria can be described to be at a turning point, with over 600 million Africans still lacking electricity, the continent’s priority cannot be a copy and paste.

“Ours must be a just, equitable, people-centred energy addition. One that leaves our people out of poverty, powers industries, support agriculture, transform transportation and unleashes the creativity of our African youth.

“It is our pride that gas is a bridge to a cleaner future, our engine for industrialisation and our foundation for export-led growth, though gas and with gas, homes are illuminated, factories are revived, fertiliser production is strengthened, manufacturing is enabled, and foreign exchange learning is expanded.”

He added that these strategic shifts under the bold leadership of President Tinubu are positioning Nigeria as a globally competitive investment destination, from fiscal stability and policy liberalisation to improved security.

“The President’s actions demonstrate an unwavering commitment to a stronger, more prosperous Nigerians. Hence, as we look to the future of our ambition, we are very clear and unwavering that in Nigeria powered abundant, responsible and responsive, harnessed energy, we look forward to an Africa rising in the strength of innovation, industrialisation, and regional collaboration.

“We look forward to a world where energy becomes a bridge, never a barrier to prosperity, a global community where sustainability and development are not competing priorities, but shared values,” he ended.

In 2022, Nigeria launched its Energy Transition Plan (ETP) as one of its major approaches to reducing emissions, tackling poverty, addressing climate change and building a more sustainable economy. 

The country’s clean energy market is expanding rapidly, with renewable capacity estimated to grow from 4.51 GW in 2026 to 14.07 GW by 2031, driven by a 25.58% compound annual growth rate (CAGR).

Nigeria aims to achieve 23% renewable energy market share by 2025 and 36% by 2030, with a focus on solar, small hydropower, and biomass. Solar PV is the dominant growth area, with Nigeria being one of Africa’s leading markets in 2025.

(Writing by Samuel Ajala; editing by Sophie Davies)