- Nigeria must strengthen execution capacity, human capital, and targeted incentives to unlock its gas potential.
- Greater collaboration, project continuity, and policy stability are essential for attracting investment and reducing costs.
Nigeria’s gas potential remains one of the most significant in Africa, yet the country struggles to convert reserves into prosperity. Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, stressed that Nigeria must move beyond highlighting reserves. The country must urgently address execution capacity, infrastructure, and human capital development to unlock true value.
Ojulari explained that while Nigeria holds one of Africa’s largest gas reserves, most discoveries were incidental during oil exploration, not dedicated gas campaigns. This underscores the vast untapped opportunities that Nigeria’s gas potential offers. However, he warned that reserves alone cannot generate growth. Although the Petroleum Industry Act (PIA) has improved investor access, security risks and unstable pricing continue to discourage large-scale participation.
He emphasised that infrastructure expansion remains slow, limiting the country’s ability to effectively harness Nigeria’s gas potential. Without reliable pipelines, storage facilities, and processing plants, investors remain cautious. Ojulari also urged stronger codified security frameworks to inspire investor confidence and reduce operating risks.
According to him, execution capacity is another major weakness. Many international contractors and service providers remain absent from Nigeria, leaving operators with limited ability to deliver projects. This weak execution undermines progress and prevents the country from maximising its gas potential. To address this, Ojulari argued for policies that attract reliable service companies and strengthen domestic technical capacity.
Equally important, he stressed that human capital is central to long-term growth. Meeting President Bola Tinubu’s ambition of expanding gas production and driving industrialisation requires skilled workforce across the value chain. Developing technical expertise in exploration, production, processing, and marketing would ensure that Nigeria’s gas potential translates into real economic gains.
Ojulari further recommended targeted incentives rather than generic ones. These should address investor needs through fiscal and operational measures that accelerate critical projects. Moreover, he called for greater collaboration across industry players. A fragmented approach, he argued, raises costs, while long-term drilling campaigns and joint strategies could reduce expenses and attract top-tier contractors.
Finally, he warned against the lack of continuity in project execution. Inconsistent Final Investment Decisions (FIDs) disrupt momentum, erode fabrication capacity, and inflate costs. In contrast, consistent project delivery could preserve infrastructure, sustain trained manpower, and strengthen confidence in Nigeria’s gas potential.
Ojulari concluded that unlocking Nigeria’s gas potential requires addressing five priorities: boosting execution capacity, building human capital, providing targeted incentives, ensuring security and policy stability, and fostering collaboration. With decisive action, Nigeria can transform its gas reserves into sustainable prosperity and position itself as a global gas leader.