Nigeria Secures $3.5 Billion in Gas Sector Investments

The Federal Government of Nigeria has reported significant advancements in the gas sector, highlighting approximately $3.5 billion in new investments that have reached Final Investment Decision (FID) under President Bola Tinubu. Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, announced this during a media event in Abuja.

The four projects that achieved FID include the Iseni Project valued at about $122 million, the Ubeta Project at $566 million, the HI Project at $2 billion, and the Ima Project at $800 million. Collectively, these projects represent around $3.5 billion in committed investment.

Additionally, the Brass Methanol Project, valued at approximately $3.5 billion, has progressed towards execution following the resolution of its Gas Sales and Purchase Agreement. Ekpo noted that Nigeria's proven 2P gas reserves increased from approximately 208.83 trillion cubic feet (TCF) in 2023 to 215.19 TCF as of January 1, 2026, with average gas production rising from about 6.86 billion cubic feet per day (bcf/d) to approximately 7.5 bcf/d.

The government aims to boost production to 10 bcf/d by 2027 and 12 bcf/d by 2030.