Nigeria is set to attract up to $20 billion in fresh investments through 70 priority gas projects, as part of renewed efforts to harness its vast natural gas reserves for industrial growth, job creation, and energy security.
The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, disclosed this on Wednesday at the opening of the Gas Utilisation Unlock Validation Series in Lagos, organised under the Decade of Gas Initiative.
Ahmed explained that the selected projects were chosen from over 200 proposals reviewed by the Decade of Gas Secretariat between July and August. He said they represent the most promising opportunities to propel Nigeria toward its 2030 goal of becoming a gas-powered economy.
“These projects could attract more than $20 billion in new investment, create tens of thousands of jobs, and stimulate industrial activities nationwide,” he said.
The 70 projects, covering key sectors such as power generation, fertiliser, petrochemicals, CNG/LPG, and gas exports, have a combined potential gas demand of about 15 billion standard cubic feet per day (bscfd).
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Ahmed noted that the ongoing validation process would ensure the technical, financial, and commercial feasibility of the projects, as well as identify policy and infrastructure enablers to fast-track implementation.
Launched in 2021, the Decade of Gas Initiative aims to leverage Nigeria’s over 200 trillion cubic feet of proven gas reserves to drive industrialisation and export diversification.
Despite its abundant resources, Nigeria continues to face challenges such as infrastructure gaps, regulatory overlaps, and market inefficiencies that limit full gas utilisation.
