By Danjuma Amodu | February 4, 2026
Nigeria has reaffirmed its dedication to working with African countries, international partners, and the private sector to provide cleaner, more affordable, and secure energy for all.
President Bola Ahmed Tinubu stressed that energy is the backbone of global stability and prosperity, describing it as the “invisible force holding the modern world together.”
Addressing the 9th Nigeria International Energy Summit, Tinubu, represented by Vice President Kashim Shettima, highlighted Nigeria’s focus on utilizing its vast gas reserves as a transition fuel and expanding renewable energy capacity. “Energy must unite communities, stabilize economies, and secure futures. It must power factories, illuminate homes, fuel innovation, and build trust between government, investors, and citizens,” he declared.
The Nigerian leader recalled that despite inheriting an energy sector rich in potential in 2023, it was “constrained by inefficiencies, uncertainty, and prolonged under-investment.” He noted that his administration had worked to address these challenges, guided by the understanding that energy is a catalyst for national security, industrial growth, social inclusion, and regional cooperation.
Tinubu assured that his government is fully committed to “building an energy system that delivers reliability, transparency, sustainability, and shared prosperity.”
He outlined efforts to boost the energy sector, including sustaining the implementation of the Petroleum Industry Act, consolidating regulatory institutions, and improving transparency and investor confidence.
Under his administration, Nigeria’s upstream activity has recorded a historic rebound, with rig counts rising from eight rigs in 2021 to sixty-nine rigs by late 2025. The sector has secured Final Investment Decisions exceeding eight billion United States dollars, including major offshore gas developments involving global energy companies. He added.
Tinubu attributed the decline in crude oil theft to enhanced security coordination, surveillance, and regulatory enforcement. He said early reforms, including fuel subsidy removal and foreign exchange liberalization, had repositioned the sector’s economics, improved market efficiency, and enhanced long-term investment attractiveness.
The energy summit highlighted Nigeria’s potential as a major player in the global energy market, with its vast gas reserves and growing renewable energy capacity.
Industry stakeholders lauded the government’s efforts to improve the business environment, including the removal of fuel subsidies and foreign exchange liberalization.
The summit also focused on the importance of gas as a transition fuel, with several countries expressing interest in Nigeria’s gas reserves. The government is working to increase gas production and develop infrastructure to support the industry.
Environmental groups, however, raised concerns about the impact of gas development on climate and local communities. They urged the government to prioritize renewable energy and ensure that energy development is sustainable and equitable.
The Nigerian government has set ambitious targets for renewable energy growth, aiming to increase solar and wind power capacity in the coming years. This energy summit provided a platform for stakeholders to discuss the challenges and opportunities in Nigeria’s energy sector and explore ways to achieve sustainable and inclusive energy development.
Similarly, the Gambian President, Adama Barrow, observed that Nigeria’s policies have implications far beyond its borders, noting that working together through strategic partnerships is key to regional solutions and energy security.
President of the Republic of Equatorial Guinea, Teodoro Obiang Nguema Mbasogo, maintained that Africa must cease to be merely an exporter of raw materials and focus on processing them for the betterment of future generations.
The Senate President, Godswill Akpabio, in a speech read on his behalf, averred that in Africa, energy is not just about resources but about inclusive and sustainable prosperity. He assured that the National Assembly is ready to work with relevant stakeholders through legislative backing, agreeing that when the energy system works, the economy grows more resilient.
Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), said the gathering was a call to action to make energy a champion for advancement. He commended the Dangote Refinery, BUA, and other refiners for making significant investments in Nigeria’s energy sector.
Rt. Hon. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), noted that while collaboration is essential in building a reliable energy system, President Tinubu’s Renewed Hope Agenda is already positioning gas as a cornerstone of Nigeria’s energy security.
He assured that the government was strengthening oil and gas stability while supporting regional integration and building on the meaningful gains recorded in the sector.
In his speech at the summit, Mr. Farid Ghezali, Secretary General of APPO, announced that the African Energy Bank aims to mobilize $200 billion for Africa’s gas transition and energy transformation. The bank will start by raising $15 billion within three years through listings of major national companies and midstream projects. “The African Energy Bank will allow the listing of shares of our national companies and flagship projects… Our goal is to raise $15 billion in just three years,” Ghezali said.
The bank is designed to unlock $200 billion for Africa’s midstream-downstream projects by 2030 and beyond. It will unify intra-African pricing for gas and oil, potentially saving member countries up to 30% on energy imports and unlocking a $1.4 billion gain for Africa.
Dr. Omar Farouk Ibrahim, former APPO Secretary General, highlighted APPO’s efforts to address emerging challenges, including founding the African Energy Bank with Afreximbank. The bank, headquartered in Abuja, has been completed and handed over to Nigeria, with activities set to commence in June.
Ibrahim urged President Tinubu to attend future summits, saying his presence would boost investor confidence and drive growth in Nigeria’s energy sector.
“We believe that Your Excellency’s presence at future summits will send a strong signal to the international community about Nigeria’s commitment to its energy sector and encourage more investment in the industry,” he said.
Speaking on behalf of the Independent Petroleum Producers Group (IPPG), Adegbite Falade, Managing Director and Chief Executive Officer of Aradel Holdings Plc, said gas production in Nigeria has grown significantly since 2025, with indigenous producers increasingly allowed to thrive.
According to him, under the leadership of Mr. President, requisite reforms and executive orders have been approved, thereby increasing local ownership in the sector.
Engr. Bashir Bayo Ojulari, Group Chief Executive Officer (GCEO) of NNPC Ltd., stressed that Africa is at a turning point in the energy sector.
He stated that Nigeria is well positioned to lead this charge, with over 37 billion barrels of oil potential, making the country an emerging global energy powerhouse.
The 9th Nigeria International Energy Summit concluded with a call to action for stakeholders to work together to address the country’s energy challenges and promote sustainable development.
The summit was attended by heads of delegation and senior government officials from across the globe, as well as leaders of international energy organizations, chief executives of global and indigenous energy companies, development finance institutions, and representatives of host communities.
The event aimed to promote Nigeria’s energy sector and attract investment, providing a platform for stakeholders to engage with the government and discuss the country’s energy future.
