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Energy Investment Risk Assessment Fact-Finding Mission to Nigeria

The third fact-finding mission of the Energy Charter Secretariat’ s Energy Investment Risk Assessment (EIRA) project took place in Abuja, Nigeria from 26 to 29 March 2018.  In line with the scope of EIRA, the mission’s goals was to find out in greater detail about the energy sector of Nigeria, gather information on its regulatory and legal regime, and to understand the functioning of various state and non-state bodies, agencies and institutions in the context of the country’s political structure. The findings of the mission will be elaborated in an extended country profile for Nigeria which intends to assist the government in monitoring the performance of its energy sector and take necessary measure to lower the assessed risks.

The mission was co-organized and hosted by the Energy Commission of Nigeria. As part of the mission agenda, the Energy Charter Secretariat team met Dr Christopher Ogbonnaya Onu, the Honorable Minister of Science and Technology who emphasised the country’s commitment to deepen cooperation with the Secretariat and outlined the significance of EIRA for making Nigeria’s energy sector conducive to investors. The team also met the Honorable Minister of Foreign Affairs, Mr Geoffrey J.K. Onyeama, who highlighted the relevance of the EIRA project for Nigeria’s investment needs. He pledged his full support to the project as well as further engagement of Nigeria in the Energy Charter Process.

In addition, the team participated in various round-table and bilateral meetings with representatives of federal ministries, state agencies and other stakeholders including legal professionals, chambers of commerce and energy investors in Nigeria. These exchanges provided key insights into the energy needs of the country and enabled the team to gather information from different perspectives. Further meetings were organised with the ECOWAS Commission and the EU Mission to Nigeria and ECOWAS who provided valuable inputs and expressed their interest in the EIRA project.