The disclosure came from NNPC’s Executive Vice President for Gas, Power & New Energy, Olalekan Ogunleye, during the CERAWeek energy conference by S&P Global in Houston. Speaking on a panel titled “The New Gas Order: Market Depth and the Reshaping of Global Trade”, Ogunleye highlighted Nigeria’s strategic position in the global gas market.
“With the ongoing Strait of Hormuz shipping constraints due to geopolitical tensions in the Middle East, Nigeria is uniquely positioned to become a major supplier of LNG and gas-based industrial products,” Ogunleye said. “Our abundant gas resources, combined with proximity to key markets, give Nigeria a competitive advantage in the global energy landscape.”
Ogunleye outlined the objectives of the NNPC Gas Master Plan, which include raising validated gas reserves from 210.5 tcf to an estimated 600 tcf. He also emphasized production growth targets, noting:
“We aim to increase gas production volumes from 7.4 billion standard cubic feet per day (bscfd) to 12 bscfd by 2030, exceeding the Federal Government’s mandate for 62% growth.”
He further stated that attracting $60 billion in additional investments would be achieved through commercial incentives and strategic partnerships.
“This plan is neither aspirational nor theoretical,” Ogunleye said. “Its success depends on disciplined execution of our annual work plans to ensure we meet—and surpass—our gas development growth targets.”
NNPC’s strategy reflects Nigeria’s effort to capitalize on its natural gas resources and geographic advantage to strengthen its role in global LNG supply and gas-based industrial development. By boosting both reserves and production capacity, the country aims to meet growing international demand while supporting domestic industrialization and energy security.