NLNG Seeks Reforms to Unlock Nigeria's 600 TCF Gas Potential

Nigeria's National LNG Ltd. (NLNG) has called for governance reforms and sustained investment to unlock the country's estimated 600 trillion cubic feet of gas potential.

In a keynote address at the PENGASSAN Energy and Labour Summit, NLNG Managing Director Adeleye Falade emphasized that Nigeria remains rich in gas resources but faces significant gaps in production, utilisation, and conversion into electricity, industrial inputs, jobs, revenue, and economic growth.

Falade pointed out that more than 37 percent of Nigerians lack access to electricity, while several gas-based industries continue to struggle with reliable supply despite the country's abundant gas resources. He attributed this situation to a 'gas-to-value challenge', where Nigeria needs to improve its capacity to convert abundant resources into electricity, industrial development, jobs, foreign exchange, and prosperity.

NLNG has made significant progress in the sector through policy and regulatory reforms, including the National Gas Policy, Decade of Gas Initiative, and Petroleum Industry Act. However, Falade stressed that investors require clear rules, competitive fiscal terms, respected contracts, and transparent regulatory processes before committing substantial capital to gas projects and infrastructure.