Tinubu hails $800m investment decision on 50-year-old Ima gas project

President Bola Tinubu has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, calling it a significant milestone in Nigeria's efforts to unlock its gas resources for industrialization, job creation, and economic growth. The Ima Gas Project, developed by AMNI International in partnership with TotalEnergies, is expected to produce approximately 300 million standard cubic feet of gas per day at peak.

Located offshore in Oil Mining Leases 112 and 117, the resource was discovered in 1973 but remained undeveloped for over five decades. Tinubu emphasized the importance of creating a predictable and competitive environment for investors, stating that the development of the Ima Gas Project demonstrates the potential for turning Nigeria's natural resources into productive investments and economic opportunities.

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