- Nigeria seeks $60bn in investments within 5–7 years to raise gas output to 12 bcf/d, expand refining, and grow oil production to 3m bpd by 2030.
- Ongoing projects include the AKK pipeline, Nigeria–Morocco Gas Pipeline, NLNG Train 7, and CNG/LPG programmes.
The Nigerian National Petroleum Company Limited (NNPCL) says the country is seeking $60 billion in new investments over the next five to seven years to boost gas infrastructure, scale production, and reinforce its position in the global energy market.
NNPCL Group CEO, Mr. Bayo Ojulari, disclosed this at the Gastech Exhibition and Conference in Milan, Italy, where delegates from 150 countries convened. He also said the plan is to raise natural gas output to 12 billion cubic feet per day, expand refinery capacity, and grow crude oil production from the current 1.6 million barrels per day (bpd) to 2 million bpd by 2027 and 3 million bpd by 2030.
Ongoing projects include the Ajaokuta–Kaduna–Kano (AKK) pipeline, the Nigeria-Morocco gas pipeline, the West African Gas Pipeline extension to Europe, and expansion of the Nigeria LNG project, currently on Train 6, with Train 7 due in 2026 and plans for Trains 8 and 9. Nigeria already supplies 60% of LNG imports to Portugal and Spain.
Ojulari highlighted reforms under the Petroleum Industry Act (PIA), which transformed NNPC into a limited liability company, enabling greater access to funding and partnerships. He also noted government initiatives to expand LPG use, deploy 2 million cylinders, and roll out compressed natural gas (CNG) for vehicles and machinery.
In addition, Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, reaffirmed that natural gas remains central to the nation’s energy strategy, supporting industries, clean cooking, agriculture, and regional integration. He emphasised ongoing efforts to grow LNG production from 22 to 30 million metric tonnes per annum (MTPA) with Train 7, and pipeline diplomacy through projects with Morocco, Algeria, and Equatorial Guinea.
With 210 trillion cubic feet of proven reserves, Nigeria is positioning gas as both a driver of industrialisation and a bridge to renewables, aiming to attract global investors and secure its role in the energy transition.