Nigeria’s gas production is on track to increase from 7.5 billion cubic feet per day (bcf/d) to approximately 12 bcf/d. This progress was announced by the Federal Government, with the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, providing the update at a recent event in Lagos.
Ekpo stated that the government’s focus for the upcoming year will be to significantly boost gas production and advance Nigeria’s goal of becoming a gas-based economy by 2030. This initiative is part of the Decade of Gas program, which aims to achieve higher levels of gas production and ensure the country’s gas sufficiency.
Addressing concerns about the long-term sustainability of gas production, Ekpo expressed confidence in the sector’s future. He noted that international oil companies are shifting their operations from shallow water to deep water, where large gas deposits are found. With President Bola Tinubu’s backing, Ekpo believes Nigeria will have sufficient gas to meet its targets.
According to the Nigerian Upstream Petroleum Regulatory Commission, Nigeria’s reserves of both associated and non-associated gas are around 209.26 trillion cubic feet.
Despite the positive developments in production, there are concerns about the increasing cost of cooking gas, which has risen to approximately N1,300 per kilogramme, up from less than N1,000 in June. This price increase is impacting consumers across the country.
