Tinubu Announces $800m Lifeline for Long-Dormant Ima Gas Field

Nigeria's President Bola Tinubu has announced an $800 million investment in the Ima Gas Field, a resource discovered in 1973 but left undeveloped for over five decades. The Final Investment Decision (FID) was made by AMNI International and TotalEnergies, with the project expected to produce about 350 million cubic feet of gas per day at peak.

The output is projected to supply around one-third of the gas required for the expansion of Nigeria LNG (NLNG). The development marks a major milestone in the commercialization of a gas discovery that has remained underground for over 50 years, with Tinubu stressing that the government's objective was to move Nigeria's vast natural resources from 'potential to production'.

The President said one of the reforms introduced specific incentives aimed at unlocking onshore and shallow-water gas projects that had remained undeveloped for years. He added that the project would create opportunities for Nigerian engineers, technicians, contractors, and businesses, while stimulating economic activity in host communities and increasing the country's export earnings.