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According to the Minister of State for Petroleum (Gas) Resources, Dr. Ekperikpe Ekpo, Nigeria has recorded approximately $3.5 billion in committed investments following final investment decisions (FIDs) on four major gas projects.
Ekpo made the disclosure on Friday in Abuja during a press conference on developments in the gas industry in Nigeria since he assumed office in August 2023.
The minister said the projects reflect growing investor interest in Nigeria’s gas sector and are expected to expand production capacity, support industrial activity and create employment.
Four gas projects secure investment decisions
Ekpo identified the four projects and their estimated investment values as: Iseni Project — $122 million, Ubeta Project — $566 million, HI Project — $2 billion, Ima Project — $800 million
Together, the projects represent approximately $3.5 billion in committed investments.
Ekpo said the decisions were more than milestones for individual projects, arguing they demonstrated the potential of investments in the gas sector to generate broader economic benefits.
“These are not simply project milestones; they are evidence that responsible investment can create lasting national value, strengthen productive capacity and generate jobs.”
The minister also said that progress has been made in the Brass Methanol project, worth around $3.5 billion.
According to Ekpo, the project has moved closer to execution following the resolution of gas sales and purchase agreement (GSPA) issues.
The development is significant because methanol production can provide Nigeria with an additional avenue to convert its natural gas resources into industrial products.
Ekpo said Nigeria’s proven natural gas reserves increased over the period under review.
According to data he presented, proven reserves increased from approximately 208.83 trillion cubic feet (TCF) in 2023 to 215.19 TCF as of January 1, 2026.
Average gas production also increased from approximately 6.86 billion cubic feet per day (BCF/D) in 2023 to approximately 7.5 BCF/D.
The national gas supply, he added, has exceeded 2 BCF/D.
The federal government is targeting further increases in gas production as demand grows in several sectors.
Ekpo said the immediate target is 10 BCF/day, with production expected to reach 12 BCF/day by 2030.
The additional supply is expected to serve markets including: electricity generation, manufacturing, fertilizer manufacturing, petrochemicals, liquefied natural gas and other industrial users.
The government has positioned natural gas as an important component of Nigeria’s strategy to expand domestic energy supply and industrial production.
The minister also reported improved utilization of Nigeria LNG (NLNG).
NLNG capacity utilization has increased from around 59% in 2023 to 87% year-to-date in 2026, according to Ekpo.
He also provided an update on Train 7, which is expected to expand the company’s production capacity.
Once completed, the project is expected to add approximately eight million tonnes per annum (MTPA) to NLNG’s existing 22 MTPA capacity.
The minister said completion is expected in June 2027.
This would bring total NLNG production capacity to around 30 MTPA, strengthening Nigeria’s ability to process and export natural gas.
Ekpo said the Federal Government had also institutionalized the Decade of Gas initiative following the approval of President Bola Tinubu.
The initiative provides a framework for policy and investment coordination across Nigeria’s gas value chain.
Its areas of interest include: increasing gas supply, stimulating domestic demand, expanding infrastructure, attracting investment, developing technical skills, improving the gas market, reducing emissions.
Nigeria has one of Africa’s largest natural gas reserves, but challenges involving infrastructure, investment, processing capacity and domestic demand have historically limited the extent to which these resources can be converted into economic value.
The government’s current gas strategy aims to go beyond simply exporting raw resources, expanding the role of gas into:
energy → production → fertilizers → petrochemicals → LNG → exports.
The four FIDs announced by the Minister therefore represent project-level investments, while the broader gas strategy aims to increase activity across the entire value chain.
| Indicator | Figure |
|---|---|
| Four projects with FID | $3.5 billion |
| Iseni project | $122 million |
| Ubeta project | $566 million |
| CIAO project | $2 billion |
| Ima project | $800 million |
| Proven gas reserves, 2023 | 208.83 FCF |
| Proven gas reserves, January 2026 | 215.19 FCF |
| Average production, 2023 | 6.86 BCF/D |
| Average production, 2026 | 7.5 BCF/D |
| Short-term production target | 10 BCF/D |
| Production target to 2030 | 12 BCF/D |
| NLNG capacity utilization, 2023 | 59% |
| NLNG use, year 2026 | 87% |
| Existing NLNG capacity | 22 MTAP |
| Train 7 additional abilities | 8 MTAP |
| Planned total NLNG capacity | 30 MTPA |
