NNPC targets 600 trillion cubic feet gas reserves, $60 billion investments

[Mr.Simon]

The Nigerian National Petroleum Company Limited has said it plans to grow Nigeria’s gas reserves from the current 210 trillion cubic feet to about 600 trillion cubic feet.
The NNPCL also noted that it is working on its mandate to attract about $60 billion in investments into the gas sector.
This was disclosed by the NNPCL’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, at the CERAWeek energy conference by S&P Global in Houston, according to a statement posted on X by the NNPCL on Friday.

 

[Adegoroye]

It will help the revenue of the country to be on increase.The investment level should go up and encourage more investment in oil and gas

The Nigerian National Petroleum Company Limited has said it plans to grow Nigeria’s gas reserves from the current 210 trillion cubic feet to about 600 trillion cubic feet.
The NNPCL also noted that it is working on its mandate to attract about $60 billion in investments into the gas sector.
This was disclosed by the NNPCL’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, at the CERAWeek energy conference by S&P Global in Houston, according to a statement posted on X by the NNPCL on Friday.

 

[LagosPolice]

You can imagine that we dont even have any Gas reserve right now, and we have been producing oil for many years now. really sad. Thank God for Dangote again. We need other billioniares to step up like Dangote.

 

[Chinyere]

The Nigerian National Petroleum Company Limited has said it plans to grow Nigeria’s gas reserves from the current 210 trillion cubic feet to about 600 trillion cubic feet.
The NNPCL also noted that it is working on its mandate to attract about $60 billion in investments into the gas sector.
This was disclosed by the NNPCL’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, at the CERAWeek energy conference by S&P Global in Houston, according to a statement posted on X by the NNPCL on Friday.

I agree that increasing gas reserves and attracting investment will boost revenue, but I think the real issue is not just having gas, it is utilizing it effectively.
Nigeria already has significant gas reserves, but the problem has always been:
Infrastructure (pipelines, processing plants)
Power generation challenges
Policy consistency
Execution

 

[Mr.Simon]

It will help the revenue of the country to be on increase.The investment level should go up and encourage more investment in oil and gas

Exactly. When things look stable politically, investors feel safer putting money into the country, especially in oil and gas. That means more business and more revenue for Nigeria.

 

[Mr.Simon]

You can imagine that we dont even have any Gas reserve right now, and we have been producing oil for many years now. really sad. Thank God for Dangote again. We need other billioniares to step up like Dangote.

Yeah, it’s shocking that after all these years of oil production, we still don’t have a proper gas reserve. Dangote stepping in helps a lot, but we really need more big players to invest and build capacity like he’s doing.

 

[Mr.Simon]

I agree that increasing gas reserves and attracting investment will boost revenue, but I think the real issue is not just having gas, it is utilizing it effectively.
Nigeria already has significant gas reserves, but the problem has always been:
Infrastructure (pipelines, processing plants)
Power generation challenges
Policy consistency
Execution

Exactly. Having gas is one thing, but turning it into actual power and industrial use is another. Even with big reserves, without proper pipelines, processing plants, reliable power systems, and consistent policies, the potential just sits there. It’s not just about owning resources, it’s about using them smartly.