AEC Strengthens Commitment to Eradicating Energy Poverty as Gold Sponsor of 2025 Nigeria IES

Nigeria holds a formidable 37.5 billion barrels of crude oil reserves and an impressive 200 trillion cubic feet of natural gas, alongside vast, untapped renewable energy potential.

The African Energy Chamber (AEC) (www.EnergyChamber.org), the definitive voice of Africa’s energy sector, proudly announces its participation as a Gold Sponsor at the 2025 Nigeria International Energy Summit (NIES). This sponsorship underscores the AEC’s unwavering dedication to making energy poverty history across the continent by 2030.

Scheduled to take place from February 24–27, 2025, in Abuja, NIES represents a pivotal forum for fostering international collaboration and catalyzing investment to fortify Nigeria’s burgeoning energy sector. Under the theme, Bridging Continents: Connecting Investors Worldwide with Africa’s Energy Potential, the summit aims to unite global investors with Nigeria’s abundant oil, gas, and renewable energy opportunities—a mission that perfectly aligns with the AEC’s objective of maximizing energy resources and ensuring sustainable energy access for the 600 million Africans living without electricity and the 900 million lacking clean cooking solutions.

Nigeria’s Energy Potential and Investment Surge

Nigeria holds a formidable 37.5 billion barrels of crude oil reserves and an impressive 200 trillion cubic feet of natural gas, alongside vast, untapped renewable energy potential. This positions the country to significantly expand energy access for the 85 million Nigerians currently living without electricity. In 2024, Nigeria’s adoption of pro-investment reforms elevated it as Africa’s premier destination for upstream oil and gas investments, resulting in substantial commitments from major international players.

Key investment milestones include:

• Shell committed $122 million to the Iseni Gas Project and reached a Final Investment Decision (FID) for Bonga North Tranche 1.
• TotalEnergies announced a $550 million FID for the Ubeta Gas Project.
• China National Electric Engineering Company (CNEC) partnered with UAE-based Alpha Group on the $20 billion Ogidigben Gas Revolution Industrial Park.
• CNEC also collaborated with Nigeria’s BFI Group on a $1.2 billion gas processing project in Akwa Ibom State.
• Dorman Long Engineering, a Nigerian firm, secured a $10 million trade facility loan from the African Export-Import Bank, showcasing growing investor confidence.

Future Prospects: Expanding Horizons in Oil, Gas, and Renewables

Looking forward, Nigeria’s oil and gas sector is poised for further growth. TotalEnergies is anticipated to reach FID on a $750 million offshore gas project in 2025. Additionally, Nigeria aims to attract $30 billion in deep offshore investments by 2029, solidifying its role as a major player in the global energy market.

Simultaneously, Nigeria’s renewable energy sector is witnessing rapid advancements. In January 2025, the International Finance Corporation partnered with five renewable energy firms to expand electricity access to 400,000 Nigerians. This initiative falls under the Nigeria Distributed Access Through Renewable Energy Scale-Up (DARES) program and the Mission 300 agenda, contributing to the nation’s energy diversification strategy.

NIES 2025: A Platform for Strategic Partnerships and High-Level Engagements

Against this backdrop of robust growth and opportunity, NIES 2025 offers an unparalleled platform for global investors to engage with Nigeria’s regulatory bodies and industry leaders. The summit will facilitate high-level deals and foster strategic partnerships critical to the advancement of Nigeria’s energy sector.

“Nigeria’s vast energy resources present one of the most lucrative and untapped opportunities globally, capable of driving local, regional, and international energy market stability,” stated NJ Ayuk, Executive Chairman of the AEC. “With investor-friendly policies and forward-thinking reforms, Nigeria is an attractive destination for global energy players. NIES perfectly aligns with the AEC’s mission to attract investment into Africa’s energy sector and eradicate energy poverty through strategic cooperation.”

The AEC’s Gold Sponsorship at NIES 2025 exemplifies its commitment to fostering sustainable energy development, attracting critical investments, and driving the continent toward an energy-secure future.