Nigeria Records $3.5bn Gas Investment Commitments, Targets $30bn By 2030—Ekpo

The minister of state for Petroleum Resources (Gas), Rt. Hon Ekperikpe Ekpo, has said four major gas projects have reached final investment decision (FID), bringing total committed investment to about $3.5 billion. He said the government is targeting $30 billion in gas investment by 2030.

Ekpo spoke at a media engagement, in Abuja on Friday, where he reviewed three years of the administration’s gas agenda since President Bola Tinubu appointed him on August 21, 2023.

The minister stressed that the four gas projects that have reached FID are: Iseni Project, at approximately US$122 million; Ubeta Project, at approximately US$566 million; HI Project, at US$2 billion; and Ima Project, at US$800 million.

Together, they account for approximately US$3.5 billion in committed investment.

He said a separate project, Brass Methanol Project, worth about $3.5 billion has also moved closer to execution after the resolution of its Gas Sales and Purchase Agreement.

“These are not merely project milestones. They are evidence that responsible investment can create enduring domestic value, strengthen productive capacity, and generate employment,” he said.

Ekpo said N671 billion in public money from the Midstream and Downstream Gas Infrastructure Fund has attracted about N1.6 trillion in private investment. The fund covers 31 projects and 205 infrastructure assets, which could deliver about 775 million standard cubic feet of gas a day to the domestic market when fully operational.

On gas-to-power, he said the National Economic Council approved about N185 billion to settle validated debts owed to gas producers, which had been unpaid for 10 years. He said the payment would restore commercial discipline, improve supply reliability and rebuild investor confidence.

The minister said gas production has risen from 6.8 billion cubic feet per day (bcf/d) in 2023 to 7.5bcf/d. The government targets 10bcf/d by 2027 and 12bcf/d by 2030. Domestic supply has passed 2bcf/d.

Proven gas reserves have grown from 208.83 trillion cubic feet in 2023 to 215.19 trillion cubic feet, according to the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) January 2026 declaration.

Ekpo said the Obiafu-Obrikom-Oben (OB3) gas pipeline is 100 per cent complete and has finished pre-commissioning ahead of gas introduction. The line can carry 2bcf/d and is expected to unlock more than 500 million standard cubic feet a day of extra domestic supply. The Ajaokuta-Kaduna-Kano (AKK) pipeline is about 95% complete and will be finished in 2027.

Capacity utilisation at Nigeria LNG has risen from 59% in 2023 to 87%. The Train 7 expansion, due in June 2027, will add about 8 million tonnes a year to the current 22 million, taking capacity to 30 million tonnes.

The number of vehicles converted to compressed natural gas (CNG) has risen from about 11,000 in 2023 to more than 120,000. The government plans to reach one million CNG vehicles and 1,000 refuelling units.

For households, the target is 5 million LPG users by 2030. Distribution of 20,000 filled cylinders with six months of free refills has started in states including Bayelsa and Akwa Ibom. President Tinubu has also extended the National Grassroots LPG Penetration Programme to 2060, with the aim of reaching more than 10 million households.

On flaring, 42 companies have been awarded contracts to convert flared gas into energy, feedstock, LPG, CNG and power. Ekpo said the government would sustain the measures needed to end routine gas flaring by 2030.

Ekpo said the President has approved the institutionalisation of the Decade of Gas initiative to coordinate policy, implementation and accountability across the gas value chain.

He noted that Philip Mshelbila, former Managing Director of NLNG, became Secretary General of the Gas Exporting Countries Forum (GECF) on January 1, 2026, the first Nigerian to hold the post. Ekpo said he is President of the GECF Ministerial Meeting for 2026 and chairs the West African Gas Pipeline Committee of Ministers. He added that Nigeria has been admitted as an association country of the International Energy Agency.

“The true measure of policy is sustained delivery,” he said.