By Jemimah Wellington, JKNewsMedia Reporter
AFRICA IS emerging as a key player in the global energy market, with Nigeria positioned at the forefront as the continent’s largest oil and gas producer.
The increasing demand for energy worldwide underscores the region’s potential, as industry leaders push for more investment and infrastructure development to harness its vast resources.
This was highlighted at the 2025 Nigeria International Energy Summit (NIES) in Abuja, the Group Chief Executive Officer of NNPC Ltd., Mele Kyari, said the critical role Nigeria plays in sustaining global oil demand.
Addressing participants on the theme “Africa’s Energy Renaissance: Unlocking Opportunities for Global Investors,” Kyari noted that oil would continue to account for over 39% of global energy consumption, with demand exceeding 100 million barrels per day in the foreseeable future.
A statement by Olufemi O. Soneye, Chief Corporate Communications Officer of NNPC Ltd reaffirmed the company’s commitment to leveraging gas as a sustainable energy solution.
Kyari stressed that over 70% of Nigeria’s population lacks access to clean cooking fuel, while more than 50% remain without reliable electricity.
He described these gaps as a strategic opportunity to position gas as a transformative energy source for national development.
He said Nigeria is prioritising the development of essential infrastructure, regulatory frameworks, and fiscal incentives to maximise the potential of its gas sector.
Kyari also stressed the significance of gas infrastructure development in driving Nigeria’s economic expansion into a trillion-dollar market.
NNPC Ltd, he said, is at the forefront of delivering gas to domestic industries and power plants while investing in infrastructure to stimulate economic growth.
Citing the impact of policy reforms, Kyari attributed the renewed investor confidence in Nigeria’s oil and gas sector to President Bola Tinubu’s Executive Order on Oil & Gas.
He stated that the favourable fiscal terms created by the administration have led to the announcement of several Final Investment Decisions (FIDs), enhancing ease of doing business for investors.
“Today, investors are increasingly recognising that investing in Nigeria, particularly in the oil and gas sector, offers not only the potential for solid returns but also a stable fiscal environment that promises long-term profitability,” Kyari said.
He described the resurgence of global investor interest as a major milestone, indicating renewed confidence in Nigeria’s investment climate.
As energy stakeholders explore new opportunities, Nigeria is positioning itself as a leader in unlocking Africa’s full potential in the gas sector, setting the pace for economic transformation.
On the theme for the 2025 Nigeria International Energy Summit, “Bridging Continents: Connecting Investors Worldwide with Africa’s Energy Potential,” Kyari said it was needful to reflect on the growing recognition of Africa as a strategic destination for global energy investments.
