Tinubu Reforms Unlock $800m Ima Gas Project, Revive Nigeria's Oil and Gas Sector

The Tinubu Stakeholders Forum (TSF) has hailed President Bola Tinubu's reforms as the key to reviving Nigeria's oil and gas sector. According to TSF, the recent Final Investment Decision (FID) on the $800 million Ima Gas Project is a significant milestone in this effort.

The project, developed by AMNI International in partnership with TotalEnergies, is expected to produce 300 million standard cubic feet of gas per day at peak. This marks the fourth major gas project to reach FID under Tinubu's administration, following Iseni, Ubeta, and HI projects.

TSF attributes these developments to deliberate reforms aimed at improving fiscal competitiveness, reducing project costs, streamlining contracting and approval processes, and providing greater certainty for investors. The group also points to President Tinubu's new deep offshore investment framework designed to unlock up to $50 billion in new investment.

The TSF believes that increased gas supply will support power generation, fertiliser and petrochemical production, LNG exports, and other energy-intensive industries, creating opportunities for Nigerian banks, contractors, engineers, service companies, and workers.