Nigeria’s power reforms offer model for strengthening global energy security — Minister

Nigeria’s power sector reforms could provide a model for developing economies seeking to strengthen energy security amid rising geopolitical tensions and fragmentation, Minister of Power Joseph Tegbe has said.

Tegbe made the remarks in a keynote address at the opening plenary of the 50th edition of the Middle East Energy 2026 Leadership Summit in Dubai, where he spoke on “Energy Security and the Effect of Geopolitics.”

According to a statement issued by Adeola Labzy, Special Adviser, Media and Publicity to the Minister, Tegbe told ministers, industry leaders and international delegates that energy security can no longer be measured by the availability of oil and gas reserves alone.

What the Minister is saying

The Minister said modern energy security depends on the resilience of the entire energy system, including critical mineral supply chains, electricity grids, financing and institutions capable of maintaining supply during periods of disruption.

He positioned Nigeria as an important player in this evolving energy landscape, highlighting the country’s more than 200 trillion cubic feet of proven gas reserves and its long-standing record of supplying liquefied natural gas (LNG) to markets in Europe and Asia.

Tegbe also identified the Electricity Act 2023 as a major turning point in Nigeria’s electricity market, saying the legislation ended the long-standing federal monopoly and opened the way for 37 emerging electricity markets across the country.

He said the reform agenda under President Bola Ahmed Tinubu is focused not only on restructuring the market but also on creating the regulatory certainty required to attract long-term investment.

• “Capital does not flee risk; it flees uncertainty. Investors will price risk all day long; what they cannot price is a rule that changes after the contract is…