Nigeria's Gas Fund Unlocks $4.1bn Private Investment Across 31 Projects

Nigeria's Midstream and Downstream Gas Infrastructure Fund has made significant strides in mobilizing private investment for gas projects across the country. With a public capital deployment of N671 billion, the fund has attracted approximately N1.6 trillion in private investment across 31 gas projects.

The investments span over 205 gas infrastructure assets and are expected to increase domestic gas supply once the projects come online. When fully operational, these projects will deliver around 475 million standard cubic feet of gas per day to the domestic market, which represents about one-quarter of Nigeria's current domestic gas supply.

The fund's strategy is structured around using public capital to improve project bankability and attract larger amounts of private investment. According to Oluwole Adama, Executive Director of the Midstream and Downstream Gas Infrastructure Fund, 'every N1 committed by the Fund has so far been associated with approximately N2.38 in private investment.'

The projects supported by the fund include investments in compressed natural gas infrastructure, small-scale liquefied natural gas infrastructure, and gas-flare commercialization initiatives. The additional supply is expected to support manufacturing, electricity generation, transportation, and other industries that rely on reliable access to gas.