Unlocking Nigeria's Gas Potential Through Finance and Tech

During a panel session at Lagos Energy Week, Mr. Oluwol Asalu, Managing Director of Zamam Offshore Services Limited, highlighted the importance of a robust financial framework and technological advancements to unlock Nigeria's domestic gas potential. He stated that the real challenge lies in infrastructure, which requires significant investment to meet the growing demand for gas.

Asalu pointed out that while Nigeria has 210 trillion cubic feet of gas reserves, the cost of financing and infrastructure development remains a bottleneck. He stressed the necessity of identifying infrastructure gaps and the importance of developing talent within Nigeria's energy ecosystem.

Mr. Frank Umol, Managing Director of Axxela GMI, echoed Asalu's sentiments, noting that the primary issue in Nigeria's gas sector is not demand but rather the capital structure needed to build midstream infrastructure. Both leaders called for a focus on local content and partnerships to enhance the industry’s capabilities.