Abuja highlights its oil and gas potential as Middle East tensions threaten global energy flows.
Nigeria has called on Gulf oil and gas producers to view the country as a strategic partner rather than a competitor, as instability in the Middle East continues to disrupt global energy markets.
Foreign Minister Yusuf Tuggar said the ongoing conflict involving Iran, which has affected shipments through the Strait of Hormuz — a corridor for roughly 20% of global oil supply — underscores the need to diversify sources of energy.
He noted that Nigeria’s vast untapped oil and gas reserves could provide Gulf states with an alternative supply option while strengthening cooperation and investment in the sector.
Nigeria has already raised its oil output to around 1.7 million barrels per day, up from 1.4 million barrels per day in 2023, despite persistent challenges including pipeline vandalism, oil theft and years of underinvestment.
The country is also expanding energy partnerships with Gulf nations. In January, Nigeria signed a Comprehensive Economic Partnership Agreement with the United Arab Emirates, while investors linked to Qatar have announced plans to invest in Nigeria’s gas sector.
Officials say closer cooperation could help stabilize global energy markets while enhancing long-term energy security for both Nigeria and Gulf producers.
Source: Newstimehub
Six Nigerian imams abducted on their way to pray for president's re-election
Armed men, locally known as bandits, have kidnapped six imams in a northern Nigeria, police said on Sunday.
