Nigeria’s energy transition plan has received a significant boost, with over $5 billion in new investments flowing into the gas sector as of 2024, according to the Nigerian Gas Association (NGA).
Mr. Akachukwu Nwokedi, President of the NGA, made the announcement in Lagos ahead of the 29th World Gas Conference (WGC 2025), scheduled for May 19 to 23 in Beijing, China. He emphasized that the scale of investment reflects growing global confidence in Nigeria’s transition strategy.
According to Nwokedi, the capital inflows span key segments of the gas value chain, including infrastructure development, floating liquefied natural gas (LNG) facilities, gas processing plants, and domestic utilisation initiatives.
“These investments are a clear signal that Nigeria is making tangible progress in becoming a key player in the global gas market,” he said.
He attributed the surge in investor interest to recent policy reforms by President Bola Ahmed Tinubu’s administration. These include new Executive Orders impacting oil and gas operations, momentum on the Ajaokuta-Kaduna-Kano (AKK) pipeline, and the rollout of the Decentralised Gas Distribution Framework.
Nwokedi also acknowledged the contributions of regulatory bodies such as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in driving gas commercialisation and refining domestic pricing frameworks.
The NGA president highlighted the association’s commitment to environmental standards and safety, applauding NNPC Ltd. and its leadership under Mr. Bayo Ojulari for their work in advancing transformative gas initiatives.
He said, “With 209 trillion cubic feet of proven reserves and the potential to reach 600 TCF, Nigeria is positioning gas as the cornerstone of its energy transition strategy,” Nwokedi stated.
“We must ensure the transition works for us. Gas is our best option to combat energy poverty while reducing emissions.”
Looking ahead to WGC 2025, Nwokedi said the Nigeria Pavilion would spotlight the country’s advancements in gas, unveil investment opportunities, and promote the strategic objectives of the “Decade of Gas” initiative.
He stressed, “This platform is not just symbolic; it’s strategic.
“It signifies Nigeria’s readiness to take its rightful place in the global gas ecosystem—not only as a resource-rich nation but also as a prime investment destination.”
The Pavilion will serve as a convergence point for government representatives, industry stakeholders, and global partners to showcase flagship gas projects, Nwokedi noted.
He added that the event would elevate Nigerian content players, offer high-level networking opportunities, and spark vital conversations on energy transition and sustainability.
According to him, the Pavilion’s goal is to attract further international investment into Nigeria’s gas infrastructure, processing, and distribution while fostering collaboration in financing, technology, and off-take partnerships.
He noted that the initiative is not just about energy but about unlocking economic growth, employment, cleaner fuels, and national transformation.
“This isn’t just about gas; it’s about jobs, industry, cleaner energy and national transformation.
“Nigeria is ready. NGA is ready. WGC 2025 is our global stage. Let’s seize it, together,” Nwokedi said.
No comments:
Post a Comment