International Energy Agency Offers Market Intelligence To Support Nigeria’s Transition, Gas Monetisation Drive

The International Energy Agency (IEA) has provided Nigeria with critical market intelligence and training support to enhance the country’s energy transition and gas monetisation initiatives.

The IEA Africa Programme manager, Rita Maderia, made these offer on Tuesday, when she led a high-level delegation to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja, on a courtesy visit aimed at strengthening strategic collaboration on data integrity, energy transition, investment climate, and upstream sector governance.

The delegation was received by the commission’s  chief executive, Engr. Gbenga Komolafe, who reaffirmed the Commission’s unwavering commitment to transparent regulation, investor confidence, and sustainable development in line with the provisions of the Petroleum Industry Act (PIA) 2021.

Engr. Komolafe noted that the PIA has created a predictable, rule-based fiscal and governance framework that continues to inspire renewed investor confidence. He highlighted that the Commission has, within four years, developed and gazetted seventeen regulatory instruments in close consultation with industry stakeholders enhancing clarity, reducing discretion, and promoting an enabling environment for capital inflow.

“The PIA provides a transparent, commercially-viable, and investor-friendly regulatory foundation. Our commitment is to sustain regulatory certainty, deepen stakeholder confidence, and align Nigeria’s upstream sector with global best practices,” the CCE stated.

In her remarks, the IEA Africa Programme Manager, Rita Maderia, commended NUPRC for embedding decarbonization requirements into upstream project approvals, noting that the Commission’s policy of integrating green strategies into Field Development Plans (FDPs) aligns with global funding expectations for low-carbon projects.

The IEA reiterated that Nigeria’s gas resources remain pivotal to closing Africa’s energy access deficit, as nearly 600 million people lack access to electricity.

The Agency emphasised that even if Africa fully develops its identified gas reserves, global emissions would rise by only 0.5 per cent, underscoring the minimal climate impact and the continent’s right to energy development.

The IEA also expressed readiness to: Provide Nigeria access to select market intelligence products such as the Monthly Oil Market Report.

Host joint workshops on gas monetisation and Africa’s energy transition.

Expand technical-level data exchanges with NUPRC experts.

Support Nigeria’s participation in high-level international energy forums.

Engr. Komolafe highlighted the Commission’s efforts to safeguard the integrity and commercial value of upstream data. He disclosed that the Commission is enhancing its digital data management systems.

“Authoritative, professionally validated data remains essential for investor confidence and sector credibility. We are ensuring proper utilisation, protection, and value optimisation of Nigeria’s upstream data,” the CCE added.

He emphasised that NUPRC will maintain an open-door policy to foster continuous engagement with the IEA and other development partners as Nigeria positions itself as a leader in Africa’s energy transition and upstream investment growth.