…Says Nigeria Poised to Unlock Trillion-Dollar Gas Economy
Abiodun JIMOH
The Group Chief Executive Officer of NNPC Ltd., Mele Kyari, has reaffirmed Nigeria’s strategic role in Africa’s energy sector, emphasizing the country’s commitment to expanding gas infrastructure and attracting global investors.
Speaking at the opening ceremony of the 2025 Nigeria International Energy Summit (NIES) in Abuja, Kyari stated that Africa is emerging as a key destination for global energy investments, with Nigeria leading the charge as the continent’s largest oil and gas producer.
Kyari noted that oil will continue to play a significant role in the global energy mix, contributing over 39% of global demand by 2025, with daily consumption projected to exceed 100 million barrels. However, he stressed that gas is not just a transitional fuel but a long-term, sustainable energy solution for Nigeria’s development.
“At NNPC Ltd., we see gas as a transformative tool for economic growth. With over 70% of Nigerians lacking access to clean cooking fuel and more than 50% without stable electricity, gas presents an opportunity to bridge these gaps,” he said.
The NNPC boss highlighted ongoing efforts to develop essential infrastructure, regulatory frameworks, and fiscal policies to harness Nigeria’s vast gas resources. He pointed out that expanding gas infrastructure will be key to unlocking a trillion-dollar economy in Nigeria, with NNPC Ltd. playing a leading role in delivering gas to industries and power plants.
Kyari attributed the renewed investor confidence in Nigeria’s oil and gas sector to reforms introduced by President Bola Tinubu, particularly the Executive Order on Oil & Gas, which has created favorable fiscal incentives. He revealed that recent Final Investment Decisions (FIDs) in the sector were largely driven by these policy changes.
“Today, investors see Nigeria as a place where they can achieve solid returns in a stable fiscal environment. This confidence is driving increased participation in our oil and gas industry,” he stated.
Kyari emphasized that Nigeria is well-positioned to lead Africa in gas production and infrastructure expansion, ensuring energy security and economic growth.
The 2025 Nigeria International Energy Summit, themed “Bridging Continents: Connecting Investors Worldwide with Africa’s Energy Potential,” serves as a platform for global stakeholders to explore investment opportunities in Nigeria and Africa’s energy sector.
