Lagos: The Nigerian Gas Association (NGA) has announced that Nigeria’s gas sector has successfully attracted more than five billion dollars in new investments as of 2024, marking a significant milestone in the nation’s energy ambitions. Mr. Akachukwu Nwokedi, President of the NGA, revealed this development during a news conference held in Lagos on Saturday, ahead of the 29th World Gas Conference (WGC 2025) scheduled for May 19 to May 23 in Beijing, China.
According to News Agency of Nigeria, the investments span critical segments of the gas value chain, including infrastructure development, floating liquefied natural gas (LNG) facilities, gas processing plants, and domestic utilization projects. Mr. Nwokedi highlighted that these investments reflect growing global confidence in Nigeria’s energy transition strategy and its progress in becoming a key player in the global gas market.
The influx of capital is attributed to recent policy reforms introduced by President Bola Tinubu’s administration, such as new Executive Orders on oil and gas operations, advancements on the Ajaokuta-Kaduna-Kano (AKK) pipeline, and the implementation of the Decentralised Gas Distribution Framework. The NGA president also praised regulatory bodies like the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for their crucial roles in facilitating commercialization and improving the domestic pricing framework for gas.
Nwokedi reiterated the association’s support for methane reduction and enhanced Compressed Natural Gas (CNG) safety, commending NNPC Ltd. and its leadership under Mr. Bayo Ojulari for spearheading transformative gas initiatives. He emphasized Nigeria’s vast gas reserves, stating, “With 209 trillion cubic feet of proven reserves and the potential to reach 600 TCF, Nigeria is positioning gas as the cornerstone of its energy transition strategy.” He stressed the importance of utilizing gas as an effective means to combat energy poverty while reducing emissions.
Looking ahead to WGC 2025, Nwokedi announced that the Nigeria Pavilion would showcase the country’s progress in the gas sector, highlight investment opportunities, and promote strategic goals under the ‘Decade of Gas’ initiative. He underscored the pavilion’s strategic importance, stating, “It signifies Nigeria’s readiness to take its rightful place in the global gas ecosystem-not only as a resource-rich nation but also as a prime investment destination.”
The Nigeria Pavilion aims to bring together government officials, industry stakeholders, and international partners to spotlight major projects across the gas value chain. The conference will promote Nigerian content champions, offer top-tier networking opportunities, and foster critical global conversations on energy transition and sustainability. Nwokedi highlighted the pavilion’s objectives to attract global investment into Nigeria’s gas infrastructure, processing, and distribution projects, while encouraging international collaboration in financing, technology, and off-take agreements.
The initiative also seeks to reinforce Nigeria’s commitment to leveraging gas for sustainable, low-carbon development. Nwokedi concluded, “This isn’t just about gas; it’s about jobs, industry, cleaner energy, and national transformation. Nigeria is ready. NGA is ready. WGC 2025 is our global stage. Let’s seize it, together.”