The Nigerian National Petroleum Company Limited has unveiled plans to significantly expand Nigeria’s gas reserves to 600 trillion cubic feet (tcf) and attract about $60 billion in investments into the sector.
The company disclosed that its Executive Vice President for Gas, Power & New Energy, Olalekan Ogunleye, made the announcement at the CERAWeek energy conference in Houston.
Speaking on global energy dynamics, Ogunleye said Nigeria is well-positioned to benefit from shifting supply chains, particularly amid disruptions linked to tensions affecting the Strait of Hormuz.
He noted that Nigeria’s gas potential, combined with its strategic location, could boost its role as a key supplier of liquefied natural gas (LNG) and gas-based industries.
Under the NNPC Gas Master Plan, the country aims to raise its proven gas reserves from 210.5 tcf to 600 tcf, while increasing daily production from 7.4 billion standard cubic feet to 12 billion by 2030.
Ogunleye added that the plan is backed by strong execution strategies, not just projections, with a focus on delivering measurable growth and surpassing federal targets.
