The Nigerian National Petroleum Company Limited has announced plans to increase the country’s gas reserves from the current 210 trillion cubic feet to about 600 trillion cubic feet.
The company also revealed ongoing efforts to attract approximately $60 billion in investments into Nigeria’s gas sector as part of its broader expansion strategy.
The disclosure was made by NNPCL’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, during the CERAWeek energy conference hosted by S&P Global in Houston, according to a statement shared on X by the company on Friday.
Ogunleye reaffirmed that Nigeria is strategically positioned to assume a larger role in global LNG and gas-based industry supply, citing its central location within the global gas market.
Speaking on Wednesday at a panel session titled “The New Gas Order: Market Depth and the Reshaping of Global Trade,” he noted that shipping constraints in the Strait of Hormuz, triggered by the US–Israel and Iran conflict, have further underscored Nigeria’s advantage as a major LNG and gas-based industries supplier, given its vast gas reserves and closeness to key markets.
“He further clarified that the key deliverables of the NNPC Gas Master Plan include providing commercial incentives for gas exploration and development to move Nigeria’s validated reserves from 210.5 tcf to the estimated potential of approximately 600 tcf, as well as exceeding the FGN mandate to grow gas production volumes by 4.6 bcfd (62 per cent) between the end of 2025 and 2030, to 12 bscfd from the current 7.4 bscfd, as well as attracting $60 billion in additional gas sector investment,” the statement said.
He stressed that the plan is neither aspirational nor theoretical, emphasising that the defining feature of the NNPC Gas Master Plan is strict execution discipline applied to its annual work programme to ensure gas development growth targets are not only achieved but exceeded, in line with the presidential mandate on gas production expansion.
The NNPCL also stated that Nigeria is witnessing stronger demand for its liquefied natural gas cargoes.
The Nigerian National Petroleum Company Limited earlier this year unveiled its Gas Master Plan 2026, with a target of producing 10 billion cubic feet of gas per day to accelerate industrialisation and enhance Nigeria’s energy security.
The plan was launched at the NNPC Towers in Abuja, according to a statement issued by the company’s Chief Corporate Communications Officer, Andy Odeh.
The initiative, the statement added, reflects a renewed drive by the Federal Government and industry stakeholders to convert Nigeria’s vast gas resources into tangible economic value through disciplined execution, infrastructure expansion, and market development.
