Nigeria’s energy sector is gearing up for significant expansion as the Nigerian National Petroleum Company Limited (NNPCL) announces ambitious plans to secure $60 billion in investments over the coming five to seven years.
This initiative, unveiled at the Gastech Exhibition and Conference in Milan, Italy, on September 10, 2025, focuses on enhancing natural gas production and infrastructure to meet rising global demands and support domestic economic growth. With an eye on international partnerships, NNPCL aims to position Nigeria as a leading supplier in the worldwide energy market, leveraging its vast resources to drive industrialization and energy security.
At the heart of this strategy is a target to increase natural gas output to 12 billion cubic feet per day. This expansion will build on Nigeria’s current strengths, including its proven reserves of about 210 trillion cubic feet of natural gas.
Bayo Ojulari, the Group Chief Executive Officer of NNPCL, emphasized the scale of the opportunity during the conference, stating, “We are seeking at least $60 billion in investment over the next five to seven years, which for our oil and gas industry is just the tip of the iceberg.
We are seeking investors to grow production.” He highlighted Nigeria’s efficient operations in the liquefied natural gas (LNG) sector, noting, “Nigeria has one of the best-run LNG businesses globally. We want to take advantage of the current high energy demand, which is also expected to go even higher.”
Complementing the gas push, NNPCL is committed to boosting crude oil production, which currently stands at around 1.6 million barrels per day. The company has set goals to reach 2 million barrels per day by 2027 and 3 million barrels per day by 2030.
These targets align with broader federal efforts to revitalize the petroleum industry, supported by regulatory reforms under President Bola Tinubu’s administration. Executive orders have been issued to foster a more attractive environment for investors, opening up over 200 undeveloped oil and gas fields for exploration and development.
Key projects under the expansion include advancements in the Nigeria LNG facility. The ongoing Train 6 is progressing, with Train 7 slated for completion in 2026, potentially raising the country’s LNG capacity from 22 million metric tonnes per annum to 30 million metric tonnes per annum. Future phases, such as Trains 8 and 9, are also in planning.
Additionally, major pipeline developments are underway, like the Ajaokuta-Kaduna-Kano pipeline and the extension of the West African Gas Pipeline. A flagship initiative is the 5,000-kilometer Nigeria-Morocco Gas Pipeline, which will link West African nations to Europe, enhancing regional energy ties. Nigeria is also collaborating with countries like Algeria and Equatorial Guinea on the Trans-Saharan Gas Pipeline to further integrate African energy networks.
Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), underscored the strategic importance of these efforts, saying, “Nigeria as a gas nation is committed to using our natural gas to serve our economy, our continent, and other parts of the world.”
He added that natural gas serves as “the bridge to renewables, and the anchor point for developing countries like Nigeria to ensure we are not left behind in the global energy transition.” These statements reflect a holistic approach, where gas not only fuels exports but also powers local industries, agriculture, and public health initiatives.
On the international front, Nigeria already provides 60% of the LNG needs for Portugal and Spain, and NNPCL is actively courting major players like ExxonMobil, Chevron, Shell, Agip, and Total for joint ventures. The Petroleum Industry Act of 2021, which restructured NNPC into a limited liability company, has paved the way for such collaborations by enabling direct funding and streamlined operations. Geopolitical events, including the Russia-Ukraine conflict, have heightened the urgency for alternative supply routes, making African pipelines increasingly vital for European energy stability.
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Domestically, the plan extends to clean energy adoption. The government is distributing two million liquefied petroleum gas (LPG) cylinders across the country to promote safer cooking alternatives and reduce environmental impact. A compressed natural gas (CNG) program is also being rolled out to convert vehicles and machinery, cutting reliance on imported fuels and lowering emissions.
In regions like Rivers State, home to key oil and gas facilities such as the Bonny LNG plant, these developments promise job creation and infrastructure upgrades. Local communities in Rivers could benefit from expanded gas processing, which supports power generation and industrial activities without shifting the national focus away from broader goals.
Overall, this $60 billion gas expansion represents a pivotal step for Nigeria’s energy future. By scaling production and forging global links, the country aims to capitalize on its resources for sustainable growth, ensuring it plays a central role in the evolving world energy landscape. With investor interest at an all-time high, as evidenced by the Milan conference attended by representatives from 150 nations, NNPCL’s vision could transform Nigeria into a powerhouse of affordable, reliable energy.
