Restructure Nigeria to avoid further degeneration, Pearse tells FG

Nigeria’s domestic gas production has surpassed 2 billion cubic feet per day, according to the country’s gas minister. The government aims to further boost supplies to power plants and industries, thereby promoting economic growth, the minister stated on Friday. Gas output has surged to 7.5 billion cubic feet per day from around 6.8 billion cubic feet per day in 2023, Ekpo Ekpo noted.

Proven gas reserves have climbed to 215.19 trillion cubic feet from 208.83 trillion cubic feet. Nigeria targets gas production of 10 billion cubic feet per day by 2027 and 12 billion cubic feet per day by 2030 to meet mounting demand in various sectors. The Obiafu-Obrikom-Oben (OB3) pipeline, completed in full, is ready for first gas and can transport 2 billion cubic feet per day, unlocking over 500 million standard cubic feet per day of extra gas for the domestic market.

The Ajaokuta-Kaduna-Kano (AKK) pipeline is 95% complete, he added. Through the Midstream and Downstream Gas Infrastructure Fund, 671 billion naira ($434 million) have drawn about 1.6 trillion naira in private investment across 31 projects and 205 infrastructure assets. These projects are anticipated to deliver 475 million standard cubic feet per day to the domestic market upon completion. Nigeria is on track to attract $30 billion in gas-sector investment by 2030.