Credible Demand Essential for Nigeria's Gas Sector Growth

Nneka Arowolo, the Group Managing Director of Leven Energy Limited, addressed the need for credible demand in Nigeria's gas sector to attract the billion-dollar investments required for infrastructure development. Speaking at the 2026 NOG Energy Week in Abuja, Arowolo highlighted that without addressing credit risks, particularly in the power sector, Nigeria would struggle to realize its gas economic potential.

She pointed out that the industry has already established supply chains but faces challenges due to a lack of bankable demand and payment discipline. Arowolo noted that Nigeria ranks among the top ten countries globally in gas reserves, yet producers are hesitant to invest billions in building facilities without assurance of sustainable and reliable off-takers.

She underscored the necessity of maintaining credible demand to ensure that gas products are paid for and not left stranded due to evacuation issues. Arowolo also referenced Nigeria's target of achieving 12 billion cubic feet per day (bcf/d) by 2030, with 8 bcf/d projected for the power market, questioning the sector's ability to resolve its liquidity and creditworthiness issues.