Nigeria’s Gas Sector Attracts $5 Billion in Investments as Energy Transition Gains Momentum
The Nigerian Gas Association (NGA) has reported that the country’s gas-led energy transition strategy is gaining significant global recognition, with over $5 billion in new investments recorded in the sector as of 2024.
Key Investments Across Gas Value Chain
NGA President Akachukwu Nwokedi revealed during a press conference in Lagos that these investments span critical areas of the gas value chain, including:
- Infrastructure development
- Floating LNG facilities
- Gas processing plants
- Domestic utilization projects
“These investments clearly signal Nigeria’s progress in becoming a key player in the global gas market,” Nwokedi stated ahead of the 29th World Gas Conference (WGC 2025) scheduled for May 2025 in Beijing.
Policy Reforms Driving Investment Confidence
The NGA president attributed this investment surge to policy reforms under President Bola Tinubu’s administration, including:
- Executive Orders on oil and gas operations
- Progress on the AKK gas pipeline project
- Implementation of the Decentralized Gas Distribution Framework
Regulatory Support Strengthening Sector
Nwokedi commended regulatory bodies including:
- Nigerian Upstream Petroleum Regulatory Commission (NUPRC)
- Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)
for creating an enabling environment that has improved gas commercialization, streamlined pricing, and boosted investor confidence.
Gas as Nigeria’s Energy Transition Solution
With 209 trillion cubic feet of proven gas reserves and potential for 600 TCF, Nigeria is positioning natural gas as central to its energy transition strategy.
“Gas remains our most viable solution to address energy poverty while reducing emissions,” Nwokedi emphasized.
Nigeria to Showcase at WGC 2025
The country will feature prominently at WGC 2025 through a dedicated Nigeria Pavilion that will:
- Highlight sector milestones
- Promote local players
- Showcase investment opportunities
The Pavilion will host government officials, industry leaders, and international investors to foster partnerships in financing, technology transfer, and off-take agreements.
Beyond energy transition, Nwokedi noted the broader economic benefits including job creation, industrialization, and improved energy access that gas-led growth can deliver for Nigeria.
Credit: Nairametrics