Tinubu Approves $800M Investment in Ima Gas Project

President Bola Ahmed Tinubu has announced the $800 million Final Investment Decision (FID) on the Ima Gas Project, a significant step in his administration's efforts to unlock Nigeria's gas resources for economic growth. The project, developed by Nigerian independent AMNI International in partnership with TotalEnergies, is expected to produce approximately 300 million standard cubic feet of gas per day at peak.

Discovered in 1973, the Ima gas resource remained undeveloped for over five decades. The FID, announced on September 23, marks the fourth major gas project to reach this stage since Tinubu took office, following Iseni, Ubeta, and HI FIDs.

Tinubu emphasized the importance of creating a competitive environment for investors to transform Nigeria's natural resources into productive investments. Ms Olu Arowolo Verheijen, Special Adviser to the President on Energy, noted that the reforms aim to create the necessary commercial conditions to move resources into projects that generate jobs and support economic growth.