Nigeria’s ongoing power sector reforms could offer a blueprint for developing economies seeking to strengthen energy security and attract long-term investment, Minister of Power Joseph Tegbe has said.
Tegbe made the remarks while delivering a keynote address at the opening plenary of the 50th Middle East Energy 2026 Leadership Summit in Dubai, where he discussed the growing impact of geopolitics on global energy security. He argued that energy security is no longer simply about having large oil and gas reserves, but about building resilient systems capable of withstanding disruptions.
According to the Minister, Nigeria’s reforms are focused on strengthening the entire electricity value chain, including power grids, financing, regulation and institutions. He highlighted the Electricity Act 2023 as a major turning point, saying it ended the federal government’s long-standing monopoly in electricity and created room for the development of state electricity markets. Tegbe also pointed to Nigeria’s more than 200 trillion cubic feet of proven gas reserves and its established LNG supply links with Europe and Asia as strategic advantages.
Tegbe stressed that attracting investors would depend heavily on regulatory certainty, contract protection and reliable offtake arrangements. “Capital does not flee risk; it flees uncertainty,” he said, noting that investors can price risks but struggle with rules that change after agreements have been signed. The Federal Government had earlier said its power sector reforms attracted $2 billion in investment, while liabilities in the sector had fallen to N146 billion.
The Minister also called for a stronger African role in the global energy market, noting that about 600 million people across the continent still lack access to electricity. He urged investors and development partners to look beyond extracting Africa’s raw materials and support local manufacturing, processing, skills development and long-term financing. Tegbe is expected to continue discussions in Dubai, including a ministerial session focused on financing Africa’s power future.
source: nairametrics
