FG moves to unlock $20bn gas investment, targets 70 priority projects under Decade of Gas Initiative

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has unveiled fresh steps to accelerate the implementation of the Decade of Gas Initiative, unveiling plans to validate and unlock priority gas utilization projects with an estimated potential to attract over $20 billion in new investments and create tens of thousands of jobs across the country.

Speaking at the opening of the Decade of Gas Physical Unlock Validation Series in Lagos, Authority Chief Executive (ACE), Engr Farouk Ahmed said the event marked a major milestone in efforts to actualize the gas utilization targets of the Initiative.

He noted that the exercise, convened by the Decade of Gas Secretariat in collaboration with key industry stakeholders, would conduct a detailed review and validation of identified gas projects to align demand, supply, and infrastructure within the framework of the national gas agenda.

“This gathering is a critical milestone for the Decade of Gas Initiative, as it brings together key stakeholders to deliberate on the unlocks required to actualize the gas utilization targets in line with our national aspiration to harness Nigeria’s gas potential for industrial growth, job creation, and national prosperity,” he said.

According to him, the Decade of Gas Secretariat had earlier reviewed 215 gas utilization projects between July and August, identifying an aggregate potential gas demand of 30 billion standard cubic feet per day (bscfd). Of these, 70 projects with a combined demand of 15 bscfd were classified as top priority projects capable of advancing the goals of the Initiative.

The validation exercise, which will span three weeks, aims to match gas demand with supply, define pricing mechanisms, and identify critical infrastructure requirements for project delivery.

He explained that the exercise would also involve detailed credibility testing of the projects to determine those that can be reliably implemented within the Decade of Gas timeframe of 2030.

The NMDPRA boss noted that the Authority, in collaboration with the Decade of Gas Secretariat, had created an enabling regulatory environment to support the rapid development of these projects.

He disclosed that network gas transportation performance had been significantly enhanced through the revision and operationalization of the Nigerian Gas Transportation Network Code, which has improved operational pressures and overall supply stability.

He added that reforms in gas pricing and transportation tariffing had also led to a more stable and market-based pricing regime for the domestic gas sector.

On sustainability, he revealed that Nigeria was aligning with global standards such as the EU Methane Emission Reduction Regulation (MER) 2024/1787 and the UN-backed Oil and Gas Methane Partnership (OGMP 2.0) on Methane measurement, Reporting, and Verification (MRV).

The NMDPRA chief further stated that the government was positioning Nigeria as a regional hub for energy supply, including refined product trading and the establishment of a natural gas exchange platform.

“This is a defining moment for our industry. The global energy landscape is shifting, and time is not on our side. We must act quickly, with discipline and strategic collaboration, to move our gas projects from concept to execution,” he said.

“The global energy landscape is shifting, and time is not on our side”

He urged all stakeholders including regulators, operators, and investors to view the ongoing validation series not as another meeting, but as a collective commitment to national development, stressing the need to begin commissioning critical gas projects within the next 12 to 24 months to meet the goals of the Decade of Gas Initiative.

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