Nigeria’s Minister of Power, Joseph Tegbe, has said energy security can no longer be measured solely by a country’s hydrocarbon reserves, insisting that resilience across power grids, critical mineral supply chains and energy institutions has become the defining factor in today’s global energy landscape.
Tegbe stated this during his keynote address at the ongoing Middle East Energy 2026 Leadership Summit in Dubai.
The 50th edition of the summit, themed “Energy Security and the Effect of Geopolitics,” brought together local and international stakeholders to deliberate on emerging issues shaping the global energy sector.
Addressing the delegates, the minister said energy security in 2026 extends beyond oil and gas reserves, describing it as the resilience of an entire energy system.
He noted that critical mineral supply chains, grid infrastructure, capital and institutions are essential to keeping energy flowing to homes, hospitals and industries, especially during periods of global stress. He added that Nigeria remains central to the global energy conversation with over 200 trillion cubic feet of proven gas reserves and a two-decade record of reliable LNG supply to Europe and Asia.
Tegbe highlighted the Electricity Act 2023 as the most far-reaching reform of Nigeria’s power sector in a generation, saying it ended the long-standing federal monopoly and created 37 emerging electricity markets across the federation under the leadership of President Bola Tinubu.
He said, “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 signed.” According to him, Nigeria’s reform agenda is anchored on regulatory certainty, contract sanctity and bankable offtake arrangements.
The minister also presented four key propositions to summit delegates: diversification rather than diplomatic disengagement as strategic insurance; treating power grids with the same importance as fuel supply; recognising affordability as a security issue; and ensuring the global energy transition is orderly, just and responsive to the realities of individual nations.
He argued that Africa, with about 600 million people still lacking access to electricity, is at the centre of global energy geopolitics due to its mineral wealth, abundant solar resources, youthful workforce and rapidly growing energy demand.
In his closing remarks, Tegbe said, “Nigeria has chosen to build. Africa has chosen to build. And we invite you, in the spirit of this remarkable city and this landmark fiftieth summit, to build with us.”
As his engagements in Dubai continue through the week, including a ministerial fireside chat on financing Africa’s power future, Tegbe called for partnerships that go beyond resource extraction to include local processing, manufacturing, skills transfer and patient capital investment.
