The Nigerian National Petroleum Company Limited (NNPC Ltd) has unveiled plans to expand Nigeria’s gas reserves from the current 210 trillion cubic feet (tcf) to about 600 tcf, alongside efforts to attract $60 billion in investments into the sector.
The company’s Executive Vice President for Gas, Power and New Energy, Olalekan Ogunleye, disclosed this during the CERAWeek energy conference hosted by S&P Global in Houston, according to a statement shared by NNPC Ltd on Friday.
Ogunleye said Nigeria is strategically positioned to play a bigger role in global liquefied natural gas (LNG) supply and gas-based industries, citing its location at the centre of the global gas market.
Speaking at a panel session titled “The New Gas Order: Market Depth and the Reshaping of Global Trade,” he noted that shipping constraints around the Strait of Hormuz—linked to tensions involving the United States, Israel, and Iran—have further underscored Nigeria’s advantage as a reliable alternative supplier.
He explained that the NNPC Gas Master Plan is designed to incentivise exploration and development, with the goal of increasing proven reserves from 210.5 tcf to an estimated 600 tcf.
The plan also targets a 62 per cent increase in gas production—from 7.4 billion cubic feet per day (bcfd) to 12 bcfd—by 2030. This includes meeting the Federal Government’s mandate to raise output by 4.6 bcfd between the end of 2025 and 2030.
In addition, the initiative aims to attract $60 billion in new investments into the gas sector.
Ogunleye stressed that the plan is execution-driven rather than aspirational, noting that strict adherence to annual work programmes will ensure targets are not only met but exceeded, in line with the presidential gas production mandate.
Earlier in the week, Ogunleye also highlighted growing global demand for Nigeria’s LNG cargoes at the same conference, noting that geopolitical tensions in the Middle East have created new commercial opportunities for the country.
He added that demand for natural gas remains resilient despite global uncertainties.
NNPC Ltd had earlier launched its Gas Master Plan 2026 at its headquarters in Abuja, outlining a target of 10 billion cubic feet of daily gas production to support industrialisation and enhance energy security.
According to the company, the initiative marks a shift from policy development to execution, focusing on infrastructure expansion, market growth, and the commercialisation of Nigeria’s vast gas resources.
