Nigeria’s IEA Admission Justifies Tinubu’s Policy Choices, Economic Reforms — Shettima

Nigeria and the International Energy Agency (IEA) have signed an agreement for a Joint Work Programme to strengthen their strategic partnership in developing data for energy policy and investment across the energy value chain, supporting economic growth and energy security.

Vice President Kashim Shettima said Nigeria’s formal admission into the IEA as an association country was a significant milestone for the country and another testament to the gains of the economic reforms of the administration of President Bola Ahmed Tinubu.

Shettima stated this yesterday during the signing of the agreement for the Joint Work Programme between Nigeria and IEA, signalling the formal commencement of the partnership.

Speaking on behalf of President Tinubu, Shettima, in a statement by his spokesman, Stanley Nkwocha, noted that Nigeria’s formal entry into the fold of the Paris-based non-governmental organisation justifies his administration’s policy choices and efforts to leverage the country’s abundant energy resources scattered across the nation.

Commending the IEA for the important role it plays in shaping the global energy landscape, he said the agency’s efforts in the global energy conversation and in supporting countries in navigating the challenges of energy security, affordability, sustainability, and economic development cannot be overstated.

His words: “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.”

VP Shettima 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.

The Vice President assured the IEA team of his administration’s commitment to continue partnering with other stakeholders in the setting to contribute to the global energy debate on a fair and just energy transition. ‘

Earlier, the leader of the IEA delegation, Dr Fatih Birol, explained that his organisation, based in Paris, is an organisation of governments that covers all technological fields, including oil, gas, solar, nuclear power, artificial intelligence, and electric cars.

Working with the top 500 energy experts of the world in terms of giving policy advice, sharing data and expertise, he said that being a member of the IEA family is not an easy task, as it requires a lot of consideration and tests.

According to Dr Birol, after a detailed discussion with the Minister of State for Petroleum and Gas, Mr Ekperikpe Ekpo, the Board comprising the governments of the United States, Japan, Germany, Italy, and the UK voted and unanimously accepted Nigeria 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 at our own,” he assured.

Earlier, the Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, stressed that Nigeria’s admission to the IEA was based on the performance of the Tinubu administration, as reflected in the reforms undertaken in the economy.

He said the signing of the Joint Work Programme, which signals the involvement of the IEA technical team with Nigeria in developing data for energy policy and investment across the value chain, is targeted at economic growth and energy security.

On his part, the Minister of State for Foreign Affairs, Ambassador 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.

Pledging the commitment of the Minister of Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu, towards the process, “Our role is to ensure that whatever government does at home is projected effectively in advancing and promoting the interest of Nigeria.

“We take this as a critical component of our national interest, and we will not fail in ensuring that we assist, as facilitators and coordinators, in ensuring that the maximum benefit of this endeavour is derived for the benefit of the Nigerian people.”

Also, the Director General of the Energy Commission of Nigeria, Dr Mustapha Abdullahi, said the Commission’s relationship with 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.