The Presidency has stated that Nigeria’s 209 trillion cubic feet of proven gas reserves are being strategically positioned as a key asset for energy transition and economic diversification.
Mrs. Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, made this known in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja.
Speaking on the second anniversary of the Tinubu administration, Verheijen said the government is leveraging the country’s vast gas resources to diversify the economy, facilitate energy transition, and create jobs.
According to her, the administration has built on the foundation of the Petroleum Industry Act (PIA) through Presidential Directives 40 to 42, which introduced improved fiscal terms and regulatory clarity to restore investor confidence.
“This is evident by projects like the Betafield Final Investment Decision, which will supply 350 million scuffs per day of gas and many more projects like this to come,” she said.
The Betafield project, along with others like the Ubeta gas development, is aimed at boosting domestic gas supply and strengthening Nigeria’s role in the global energy market.
FG’s decade of gas progressing with 12 million homes now having LPG access
Verheijen highlighted the impact of recent reforms, including the Presidential Compressed Natural Gas (CNG) Initiative and incentives for Liquefied Petroleum Gas (LPG) adoption, which are helping to displace diesel and firewood, improve public health, and create jobs.
“Our decade of gas is accelerating progress with 12 million homes now having LPG access, while infrastructure projects like OB3, AKK Pipeline, and the looping of ALPS are unlocking gas for power and industry.
“This aligns fully with our energy transition plan,” she said.
She further stated that through presidential directives, the administration has enhanced fiscal incentives, reduced project delivery timelines and costs, and improved regulatory transparency.
“These efforts are paving the way for more gas supply projects to come on stream in the years ahead,” she added.
On infrastructure development to connect gas supply with demand, Verheijen emphasized the government’s commitment to completing critical projects like OB3, AKK, and ELPS looping.
“We have a fund within our midstream regulator called the Midstream and Downstream Gas Infrastructure Fund (MDGIF), which is to provide catalytic capital for much needed infrastructure for our midstream and downstream segments of the market.
“These investments and strategies are critical for unlocking gas for growth to power homes and industry,” she said.
Verheijen also reaffirmed the administration’s commitment to achieving its target of producing 10 billion cubic feet (BCF) of gas per day by 2030.
“Our ability to unlock not only onshore and associated gas but also non-associated gas from deepwater fields is key to meeting our long-term target of 10 BCF per day,” she said.
She noted that ongoing collaboration with security agencies and private sector operators is yielding results in curbing oil theft and pipeline vandalism, ensuring that all produced hydrocarbons reach the market.
On crude oil production, Verheijen said Nigeria is currently producing between 1.5 and 1.7 million barrels per day, with a long-term goal of reaching 4 million barrels per day.
What you should know
Recently, President Bola Tinubu signed a new Executive Order, Upstream Petroleum Operations Cost Efficiency Incentives Order (2025), aimed at reducing project costs, boosting investment, and increasing revenue in Nigeria’s oil and gas sector.
The Directive introduces performance-based tax incentives for upstream operators that achieve verifiable cost savings aligned with defined industry benchmarks.
This latest Executive Order builds on the administration’s 2024 reform directives, which enhanced fiscal terms, shortened project timelines, and aligned local content requirements with global best practices.
