NNPCL CEO Announces Bold $60 Billion Plan to Make Nigeria a Global Gas Giant

In a move poised to reshape Nigeria’s energy future, the Nigerian National Petroleum Company Limited (NNPCL) has announced an ambitious plan to attract $60 billion in new investments for gas infrastructure over the next five to seven years. The announcement was made by the NNPCL’s Group Chief Executive Officer, Bayo Ojulari, during his address at the prestigious Gastech Exhibition and Conference in Milan, Italy.

Ojulari stated that the significant investment is crucial for scaling up the nation’s natural gas production to 12 billion cubic feet per day. He emphasized that the goal is not only to meet growing domestic energy needs but also to solidify Nigeria’s position as a leading player in the global energy market. The CEO highlighted ongoing landmark projects as central to this vision. These include the massive Ajaokuta–Kaduna–Kano (AKK) gas pipeline, the planned extension of the West African Gas Pipeline, and the crucial expansion of the Nigeria LNG project, which includes the construction of Train 7 and future plans for Trains 8 and 9.

The NNPCL boss credited the Petroleum Industry Act (PIA), signed into law in 2021, for transforming the state-owned oil firm into a commercially viable entity capable of attracting such large-scale funding and forming global partnerships. He underscored the urgency of the initiative, noting that Nigeria currently supplies 60% of LNG to countries like Portugal and Spain, and the new plan is designed to capitalize on the high demand for energy worldwide.

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, who also spoke at the conference, echoed the NNPCL’s commitment, stating that Nigeria’s vast gas reserves are a “bridge to renewables.” The government’s push for gas, he said, is a vital part of its strategy to drive industrialization and ensure energy security for both Nigeria and the African continent. This bold financial target sends a clear signal that Nigeria is moving aggressively to unlock the full potential of its gas resources and secure its place in the evolving global energy landscape.