Nigeria’s gas sector attracts over $5bn in investment

Nigerian Gas Association (NGA) says the gas sector has attracted more than five billion dollars in new investments as at 2024.

Mr Akachukwu Nwokedi, President of the NGA, disclosed this during a news conference on Saturday in Lagos, ahead of the 29th World Gas Conference (WGC 2025) scheduled for May 19 to May 23 in Beijing, China.

He said that the investments meant that there had been growing global confidence in Nigeria’s energy transition strategy.

According to Nwokedi, the investments cut across critical segments of the gas value chain, including infrastructure development, floating liquefied natural gas (LNG) facilities, gas processing plants and domestic utilisation projects.

“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 credited the influx of capital to recent policy reforms introduced by President Bola Ahmed Tinubu’s administration, including new Executive Orders on oil and gas operations, progress on the Ajaokuta–Kaduna–Kano (AKK) pipeline, and the implementation of the Decentralised Gas Distribution Framework.

The NGA president commended regulatory bodies such as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for playing vital roles in facilitating commercialisation and improving the domestic pricing framework for gas.

The NGA boss also reiterated the association’s support for methane reduction and enhanced Compressed Natural Gas (CNG) safety, applauding NNPC Ltd., and its leadership under Mr Bayo Ojulari for championing 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.”

Nwokedi noted that the Nigeria Pavilion at WGC 2025 would showcase the country’s progress in the gas sector, highlight investment opportunities, and promote strategic goals under 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.”

He added that the Nigeria Pavilion would convene government officials, industry stakeholders, and international partners to spotlight major projects across the gas value chain.

Nwokedi emphasised that the conference would promote Nigerian content champions, offer top-tier networking opportunities, and foster critical global conversations on energy transition and sustainability.

He noted that the Pavilion’s objective is to attract global investment into Nigeria’s gas infrastructure, processing, and distribution projects while encouraging international collaboration in financing, technology, and off-take agreements.

He noted that the initiative would also reinforce Nigeria’s commitment to leveraging gas for sustainable, low-carbon development.

“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.

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