To solidify Nigeria’s position as a global energy leader, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reaffirmed the nation’s ambition to ramp up its gas production to ten billion standard cubic feet per day (BSCF) by the end of the decade.
The ambitious target was a central point of discussion during a strategic meeting between the minister and the management of Nigeria LNG Limited (NLNG) in Abuja on Thursday.
The high level talks focused on the critical pathways to achieving this goal, including enhancing the investment climate, implementing ongoing fiscal reforms, and securing stable gas supply.
Minister Edun positioned the recent Deepwater deal with TotalEnergies as a testament to the progress already being made under the current administration, signalling a more competitive and investor-friendly environment is taking shape.
“The President has stabilised the economy and created new opportunities for both manufacturing and energy,” Edun stated during the meeting.
He directly addressed the NLNG delegation, emphasising the importance of their input, saying, “As we implement comprehensive tax reforms, your input will be vital in shaping a more attractive business landscape.”
The minister went further to assure stakeholders of the government’s commitment to creating a transparent and efficient operating environment through technology. “We want a transparent, technology-driven environment where investors can operate with confidence,” he said, outlining plans for the rollout of digital trade systems designed to streamline oversight and eliminate bureaucratic inefficiencies.
Providing an operational update from the front lines of Nigeria’s gas sector, the Managing Director and Chief Executive Officer of NLNG, Dr. Philip Mshelbila, reported positive developments that underpin the 2030 ambition. He informed the minister that the company has experienced “stronger gas supply” and “improved security on the Trans-Niger pipeline,” which has subsequently pushed its capacity utilisation to rise “above 70%.”
Dr. Mshelbila also highlighted critical infrastructure projects, noting “advances on the Bodo-Bonny Road.” He leveraged the opportunity to call for an extension of this momentum, urging for the East-West highway to be included under the government’s tax credit scheme to further improve the logistical framework essential for the sector’s growth.
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