The International Energy Agency (IEA) has reiterated that Nigeria’s gas resources remain pivotal to closing Africa’s energy access deficit, where nearly 600 million people lack electricity.
Rita Maderia, IEA Africa Programme Manager, stated this during a visit of the Agency’s delegates to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja.
Maderia in a statement signed Eniola Akinkuotu, head, Media and Strategic Communications, emphasised that even if Africa fully develops its identified gas reserves, global emissions would rise by only 0.5 percent, underscoring the minimal climate impact and the continent’s right to energy development.
Maderia, commending the NUPRC for embedding decarbonization requirements into upstream project approvals, noted that the Commission’s policy of integrating green strategies into Field Development Plans (FDPs) aligns with global funding expectations for low-carbon projects.
According to her, “the IEA is to provide Nigeria access to select market intelligence products such as the Monthly Oil Market Report, host joint workshops on gas monetization and Africa’s energy transition, expand technical-level data exchanges with NUPRC experts and support Nigeria’s participation in high-level international energy forums.”
In his remarks, Gbenga Komolafe, the Commission Chief Executive, NUPRC, 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.
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.
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“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.
“Authoritative, professionally validated data remains essential for investor confidence and sector credibility. We are ensuring proper utilization, protection, and value optimization of Nigeria’s upstream data,” he said.
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.
