Nigeria’s Foreign Minister, Yusuf Tuggar, urges Gulf oil producers to partner with Nigeria to diversify supply amid the Iran conflict and Strait of Hormuz disruptions.
Speaking to Reuters, Tuggar highlighted Nigeria’s untapped reserves as a viable alternative for Gulf states seeking to mitigate global supply vulnerabilities.
“It’s in line with what we’ve always advocated – that countries which might otherwise consider us competitors should partner with us and invest,” he said.
Nigeria has boosted output to 1.7 million barrels per day and aims to grow further with new investments.
Recent pacts with UAE and Qatar-linked investors signal potential opportunities, though analysts warn of Nigeria’s challenging approval cycles and execution risks.
With global oil demand steady, Tuggar emphasises cooperation: “We need to work together so we have enough hydrocarbons available.”
