Seplat seeks increased investment in natural gas resources

Seplat Energy Plc has called for increased investment across Nigeria’s gas value chain to unlock the country’s vast natural gas resources, strengthen energy security, drive industrialisation, and position Nigeria as Africa’s leading gas powerhouse.

Speaking at the Gas Investment Forum (GIF) 2026 in Lagos, Seplat Energy’s Chief Executive Officer, Engineer Effiong Okon, represented by Mr Okechukwu Mba, Director of Gas & New Energy at Seplat Energy, said while Nigeria possesses more than 215 trillion cubic feet of proven gas reserves, the true value of those resources can only be realised through sustained investments in production, processing, transportation and utilisation infrastructure.

Addressing the conference themed: “Positioning Nigeria as Africa’s Global Gas Powerhouse”, Okon noted that energy poverty remains a major challenge across Africa, with an estimated 600 million people in sub-Saharan Africa still lacking access to electricity.

“Gas reserves in the ground do not power homes or factories. Gas creates value only when it is produced and reliably delivered to consumers. The task before us is to convert Nigeria’s vast gas endowment into tangible economic growth, industrial development and energy access for millions of people,” he said.

The Seplat Energy CEO commended the Federal Government’s ongoing efforts to improve investment conditions in the gas sector, particularly initiatives aimed at addressing legacy debts in the gas-to-power value chain, which are helping to improve the bankability of gas projects.

He also welcomed recent final investment decisions on major energy projects and described the commencement of operations on the OB3 gas pipeline as a significant milestone for Nigeria’s gas industry.

Okon highlighted the role of policy reforms, especially the Petroleum Industry Act (PIA), in creating a more transparent and investor-friendly environment for gas investments. He noted that institutions such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Midstream and Downstream Gas Infrastructure Fund (MDGIF) are helping to strengthen regulatory certainty and close infrastructure gaps across the sector.

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Speaking on Nigeria’s global competitiveness, he said the country’s strategic location in the Gulf of Guinea gives it a unique advantage in serving both regional and international gas markets, including Europe, while also supporting growing energy demand across Africa.

Okon also outlined the company’s significant investments in gas infrastructure over the past decade, including the 375 MMscfd Oben Gas Plant, the 90 MMscfd Sapele Gas Plant, and the flagship 300 MMscfd ANOH Gas Plant, which together reinforce the company’s position as one of Nigeria’s leading domestic gas suppliers.

According to him, Seplat currently supplies gas directly to six power stations and supports numerous industrial customers through gas distribution networks. Through the ANOH Gas Plant, the company also supplies gas to fertilizer manufacturers, contributing to Nigeria’s food security objectives.

He further noted that Seplat’s acquisition of ExxonMobil’s onshore and offshore assets has significantly increased domestic supplies of butane and liquefied petroleum gas (LPG), while ongoing investments in compressed natural gas (CNG) infrastructure are expanding access to cleaner, more affordable energy for consumers not connected to pipeline networks.

“Together, these investments demonstrate Seplat Energy’s commitment to supporting government efforts to strengthen Nigeria’s energy security and accelerate gas-led economic growth,” he said.

Okon also reaffirmed the company’s commitment to environmental sustainability, noting that Seplat successfully ended routine flaring across its onshore operations at the end of 2025, resulting in a significant reduction in operational emissions intensity.

Concluding his address, he called on stakeholders across government, industry and the financial sector to work together to unlock projects capable of converting “gas molecules into electrons” that will power Nigeria’s industrial future.

“Nigerians cannot wait any longer. We must move from discussions to implementation and create the partnerships and investments necessary to fully realise the promise of our gas resources,” he said.

The Gas Investment Forum provides a platform for policymakers, regulators, investors and industry leaders to explore opportunities for accelerating gas development and strengthening Nigeria’s position in regional and global energy markets.