The Nigerian National Petroleum Company Limited has unveiled a new gas master plan aimed at transforming the country’s energy sector, with a bold target of securing $60 billion in investments and expanding gas reserves to 600 trillion cubic feet.
The announcement was made by the company’s Executive Vice President for Gas, Power and New Energy, Olalekan Ogunleye, during the CERAWeek energy conference hosted by S&P Global in Houston.
Speaking on the global gas market, Ogunleye highlighted Nigeria’s strong potential to become a major supplier of liquefied natural gas (LNG).
He explained that shifting global dynamics, including shipping challenges around the Strait of Hormuz, have created new opportunities for Nigeria to step in as a reliable energy source. With vast natural gas reserves and a strategic geographic location, the country is well-positioned to meet rising global demand.
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Under the master plan, NNPC intends to grow Nigeria’s proven gas reserves from about 210 tcf to 600 tcf. In addition, gas production is expected to rise from 7.4 billion standard cubic feet per day to 12 billion by 2030, surpassing the Federal Government’s growth target.
Also, Ogunleye emphasized that the plan is practical and execution-driven, not just aspirational. According to him, its success will depend on consistent implementation, strong partnerships, and attractive investment incentives.
However this initiative helps Nigeria to strengthen its role in the global energy market while boosting its gas-based industries.
