LAGOS, Nigeria (FN) — Nigeria’s gross gas production has climbed to 7.63 billion standard cubic feet per day, up from 6.83 billion in 2023, according to the Presidency.
Special Adviser to the President on Oil and Gas, Olu Verheijen, disclosed the figures at the Nigerian British Chamber of Commerce Energy Day in Lagos. She said the increase was driven by targeted presidential directives that improved conditions for deep water exploration, non-associated gas projects and midstream infrastructure.
Verheijen noted that more than S4 billion in international oil company divestments were redirected into deep water and integrated gas projects. She added that contracting timelines have been cut from 36 months to about 14 months, with a goal of six months, helping Nigeria attract new investment.
Nigeria’s share of African upstream final investment decisions rose sharply, from about 4 percent in 2023 to roughly 40 percent across 2024 and 2025. That shift unlocked S10 billion in commitments and created a pipeline of projects worth an estimated S500 billion.
“Stalled projects are moving again, including Bonga North, Ubeta and HI gas developments, and new non-associated gas developments that anchor long-term supply to our LNG exports,” Verheijen said.
She emphasized that the Tinubu administration views gas not only as a transition fuel but as a development fuel central to power generation, fertiliser, petrochemicals, clean cooking, compressed natural gas transport, LNG exports and manufacturing.
“The goal is not simply to produce more gas; it is to ensure Nigerian gas becomes Nigerian power, Nigerian products, Nigerian jobs and Nigerian exports,” she said.
Verheijen also highlighted reforms in the power sector, including the Presidential Power Sector Debt Reduction Programme. The Federal Executive Council approved a bond programme of up to N4 trillion to settle verified arrears owed to generation and gas companies.
Under the plan, settlement agreements worth N2.28 trillion have been signed, and a N501 billion Series 1 bond was issued and oversubscribed, with payments now underway. A second series of N729 billion is expected to follow.
She stressed that the programme is not a bailout but a strategic reset to restore liquidity and investor confidence in Nigeria’s gas-to-power chain.
Nigeria’s proven gas reserves now stand at more than 215 trillion cubic feet, positioning the country as a major player in global energy markets.
