Nigeria could double its energy investment within the next five years if the country strengthens its policies and improves the conditions needed to attract investors, International Energy Agency (IEA) Executive Director Fatih Birol has said.
Birol made the statement during a visit to Abuja as Nigeria deepens its relationship with the IEA after becoming an associate member of the organisation.
According to Reuters, Birol pointed to opportunities across Nigeria’s oil, gas and renewable-energy sectors. He said the country has significant potential to attract more investment as it works to address its energy challenges.
Nigeria and IEA Strengthen Energy Cooperation
Nigeria and the IEA are expected to develop a work programme covering key areas of the energy sector, including energy data, gas development, electrification and energy efficiency.
The partnership comes as Nigeria continues efforts to expand electricity access and improve the reliability of power supplied to homes and businesses. Increased investment could support the development of infrastructure needed to address some of these challenges.
However, attracting more capital will depend on several factors. These include policy stability, infrastructure and security. Nigeria will also need to turn proposed projects into bankable investments.
What increased investment could mean for Nigeria
A significant rise in Nigeria energy investment could create opportunities across both traditional and renewable energy. Greater development of Nigeria’s gas resources could support electricity generation. Renewable-energy projects could also help expand access to power in underserved communities.
The potential increase in Nigeria energy investment could support projects across the oil, gas and renewable-energy sectors.
For households and businesses, the impact will ultimately depend on whether new investment leads to more reliable and accessible electricity.
The IEA partnership could provide Nigeria with technical expertise, energy data and policy support. This could help the country attract investment and improve its energy sector.
Blitzedia will continue to monitor developments and update this report when authoritative new information becomes available.
Source and verification: This report is based on a Reuters report published in September 2026. Editors should recheck names, figures and developments against the latest authoritative information before publication.
