Financial Framework Essential for Nigeria's Gas Potential

During a panel session at Lagos Energy Week, Mr. Oluwol Asalu, the Managing Director of Zamam Offshore Services, highlighted the critical role of a robust financial framework and infrastructure investment in unlocking Nigeria's domestic gas potential.

He pointed out that while Nigeria possesses 210 trillion cubic feet of gas reserves, the real challenge lies in the infrastructure required to deliver gas at scale. Asalu stressed the importance of addressing the infrastructural gaps and ensuring reliable supply to meet the growing demand.

He noted that financing remains a key factor in accelerating the development of gas aligned with Environmental, Social, and Governance (ESG) standards. Asalu also identified a persistent talent gap in the energy sector, urging for deliberate steps to develop talent and deepen partnerships within the industry.

Mr. Frank Umol, Managing Director of Axxela GMI, echoed these sentiments, stating that the main constraint is the cost structure and capital required to build midstream infrastructure.