• Shettima hails pact as justification of Tinubu’s policy choices, gains of his economic reforms
Deji Elumoye in Abuja
Nigeria and the International Energy Agency (IEA) on Thursday signed an agreement for a Joint Work Programme to strengthen strategic partnership in the development of data for energy policy and investment across the value chain for economic growth and energy security.
Vice President Kashim Shettima declared that Nigeria’s formal admission into 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 Tinubu.
Shettima spoke at State House, Abuja, while signing the agreement for the Joint Work Programme between Nigeria and IEA, signalling the formal commencement of the partnership.
Speaking on behalf of Tinubu, the vice president stated that Nigeria’s formal entry into the fold of the Paris-based non-governmental organisation justified the administration’s policy choices and efforts aimed at leveraging the country’s abundant energy resources scattered across the country.
Commending IEA for the important role it was playing in shaping the global energy landscape, Shettima said the efforts of the agency in the global energy conversation and in supporting countries to navigate the challenges of energy security, affordability, sustainability, and economic development cannot be overstated.
According to him, “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.”
He 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.”
The vice president acknowledged Nigeria’s abundant renewable energy resources and Tinubu’s commitment to repositioning the economy, leveraging available resources, which were already manifesting across different sectors of the economy.
Shettima also assured the IEA team of the current administration’s commitment to continue to partner with other stakeholders within the setting to contribute to the global energy debate on a fair and just energy transition.
Earlier, leader of the IEA delegation, Dr. Fatih Birol, explained that his organisation was an organisation of governments that covered all technological fields, including oil, gas, solar, nuclear power, artificial intelligence, and electric cars based in Paris.
Working with top 500 energy experts of the world in terms of giving policy advice, sharing data and expertise, Birol said to be a member of the IEA family was not an easy task, as it required a lot of considerations and tests.
According to Birol, after detailed discussions with Minister of State for Petroleum (Gas), Mr. Ekperikpe Ekpo, the board, comprising the governments of the United States, Japan, Germany, Italy, and UK, voted and accepted Nigeria unanimously as a member.
He stated, “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 on our own.”
Ekpo stressed that Nigeria’s admittance into IEA was based on the performance of the Tinubu administration reflected in the reforms undertaken in the economy.
He said the signing of the Joint Work Programme, which portends the involvement of the technical team of the IEA with Nigeria in the development of data for energy policy and investment across the value chain and targeted for economic growth and energy security.
For his part, Minister of State for Foreign Affairs, Ambassador Sola Enikanoaiye, described IEA’s partnership with Nigeria as strategically important, stating that the Nigerian mission in Paris played a critical role in ensuring its success.
Pledging the commitment of Minister of Foreign Affairs, Mrs. Bianca Odumegwu-Ojukwu, to the process, Enikanoaiye said, “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.”
Director-General of 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.
Abdullahi expressed optimism that Nigeria’s formal membership of IEA and the agreement will strengthen the commission’s relationship with the organisation.