Nigeria Settles N100bn Gas Debts to Enhance Power Supply

The Federal Government has settled more than N100bn in longstanding gas debts since January 2026, aiming to strengthen the gas-to-power value chain. Mrs Olu Verheijen, the Special Adviser to the President on Oil and Gas, made this announcement during her keynote address at the Africa Interviews Sustainability Forum 2026 in Lagos.

This initiative is part of the Presidential Power Sector Financial Reforms Programme. Verheijen noted that the government has introduced measures to promote liquefied petroleum gas for household cooking, including import duty waivers and zero-rated value-added tax for LPG and gas cylinders.

She emphasized that Nigeria's gas sector has seen significant reforms under President Bola Tinubu, leading to four final investment decisions in gas projects in less than two years and an increase in average daily gas production from about seven billion cubic feet to eight billion cubic feet. Verheijen stated that Nigeria holds over 200 trillion cubic feet of proven gas reserves, underscoring the need for consistent investment to turn resources into prosperity.