FG Lists Achievements in Gas Sector, Puts FID Projects at $3.5 Billion

The federal government of Nigeria has highlighted several accomplishments in the gas sector, projecting a $3.5 billion worth of new investments under President Bola Tinubu. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, announced this during a media briefing in Abuja. The Nigerian Liquefied Natural Gas (NLNG) company's capacity utilization has significantly improved, increasing from 59% to 87% since the Tinubu administration took office.

Four projects - Iseni Project ($122 million), Ubeta Project ($566 million), the HI Project ($2 billion), and the Ima Project ($800 million) - have reached Final Investment Decision (FID), totaling approximately $3.5 billion in committed investment. The Brass Methanol Project, with a value of $3.5 billion, is also nearing completion after resolving its Gas Sales and Purchase Agreement (GSPA).

These projects are expected to boost industrial growth, create employment, and contribute to the country's economic prosperity. Nigeria's total proven gas reserves have increased from 208.83 trillion cubic feet (TCF) in 2023 to 215.19 TCF as of January 1, 2026, with gas production rising from 6.86 billion cubic feet per day (bcf/d) to approximately 7.5 bcf/d.

The domestic gas supply has surpassed 2 bcf/d, aiming to reach 10 bcf/d by 2027 and 12 bcf/d by 2030. The government is targeting a 10-fold increase in LNG capacity to 30 million tonnes per annum by 2027. The government is also committed to reducing emissions and ensuring a more reliable electricity supply, stronger industries, cleaner transportation, cooking, job creation, export earnings, and economic diversification through the newly approved Decade of Gas initiative.