From Local to Global: Nigeria Targets $60bn Gas Market Boom

From Local to Global: Nigeria Targets $60bn Gas Market Boom

The Nigerian National Petroleum Company Limited (NNPCL) has unveiled an ambitious plan to expand the country’s gas sector with a staggering $60 billion investment drive, aimed at positioning Nigeria as a major player in the global energy market.

Mele Kyari, Group Chief Executive Officer of NNPCL, announced the initiative at an energy stakeholders’ forum, stressing that Nigeria’s vast gas reserves present a golden opportunity to diversify revenues, power industries, and boost foreign exchange earnings.

According to Kyari, the expansion plan covers gas infrastructure development, new export terminals, and partnerships with global energy firms to ensure Nigeria’s gas is competitive on the international stage.

> “Nigeria holds one of the largest proven gas reserves in the world, and this $60 billion expansion will ensure we are not just a continental player, but a global supplier,” Kyari said.

The move comes as countries worldwide shift focus to cleaner energy sources, with gas being recognized as a transition fuel. For Nigeria, experts say this could be a game-changer, especially in tackling forex shortages, creating jobs, and attracting foreign investments.

Energy analysts, however, caution that infrastructure gaps, policy inconsistencies, and security concerns in oil-producing regions must be addressed to fully realize the benefits of the gas expansion plan.

If successful, the $60 billion push could transform Nigeria from a raw exporter into a global gas powerhouse, boosting its economic resilience and influence in the energy sector.