CAPE TOWN, South Africa, February 6, 2025 – The African Energy Chamber (AEC) (www.EnergyChamber.org), widely regarded as the voice of Africa’s energy sector, is pleased to announce its participation as a Gold Sponsor in the 2025 Nigeria International Energy Summit (NIES). This partnership underscores the AEC’s commitment to ending energy poverty by 2030 and driving growth across the continent’s energy landscape.
Taking place from February 24–27 in Abuja, NIES serves as a vital platform for fostering collaboration and attracting investment to strengthen Nigeria’s energy sector. Under the theme, Bridging Continents: Connecting Investors Worldwide with Africa’s Energy Potential, this year’s summit will connect global stakeholders with Nigeria’s vast oil, gas, and renewable energy opportunities – aligning with the AEC’s mission to maximize energy resources and provide sustainable access for the 600 million Africans lacking electricity and 900 million without clean cooking solutions.
Nigeria’s Expanding Energy Frontier
Nigeria’s resource base – 37.5 billion barrels of crude oil and 200 trillion cubic feet of natural gas, plus significant renewable potential – positions the country to expand energy access for its 85 million citizens who currently lack electricity. In 2024, pro-investment reforms propelled Nigeria to become Africa’s premier destination for upstream oil and gas ventures, attracting major commitments from Shell, TotalEnergies, CNEC, Alpha Group, and other global players.
High-profile projects include:
• Shell pledging $122 million to the Iseni Gas Project and reaching a Final Investment Decision (FID) for Bonga North Tranche 1.
• TotalEnergies announcing a $550 million FID for the Ubeta Gas Project.
• CNEC partnering with UAE-based Alpha Group on a $20 billion Ogidigben Gas Revolution Industrial Park.
• Nigeria’s BFI Group joining forces with CNEC on a $1.2 billion gas processing project in Akwa Ibom State.
• Dorman Long Engineering securing a $10 million trade facility loan from the African Export-Import Bank, reflecting surging investor confidence.
Anticipated Growth and Investment
Moving forward, investment in Nigeria’s oil, gas, and renewable sectors is projected to climb significantly. TotalEnergiesis on track to reach FID on a $750 million offshore gas project in 2025, while the country targets $30 billion in deep offshore investments by 2029. Simultaneously, Nigeria’s renewable energy market is expanding, exemplified by the International Finance Corporation’s partnership with five renewable firms to bring electricity access to 400,000 Nigeriansunder the Nigeria Distributed Access Through Renewable Energy Scale-Up initiative.
In this context, NIES 2025 offers an ideal environment for international investors to engage with Nigeria’s regulatory authorities and industry leaders on top-tier deals and strategic partnerships.
“Nigeria’s vast energy resources offer one of the world’s most lucrative yet untapped opportunities to drive local, regional, and global energy market stability. With investor-friendly policies and reforms, the country presents a compelling case for global players. NIES aligns with the AEC’s mission to attract investment into Africa’s energy sector and eradicate energy poverty through strategic cooperation,” stated NJ Ayuk, Executive Chairman of the AEC.
Source: African Energy Chamber
