Power
Tinubu reforms drive four major gas FIDs in Nigeria
The Tinubu Stakeholders Forum has credited recent government policies for unlocking major gas investments, including the latest Ima project FID.
Key points
- The 800 million dollar Ima Gas Project reached its Final Investment Decision recently.
- Ahmad Sajoh and Danjuma Sada of the Tinubu Stakeholders Forum noted it is the fourth major gas FID under the current administration.
- The project is a partnership between AMNI International and TotalEnergies.
Policy impact on gas investments
According to the Tinubu Stakeholders Forum (TSF), recent policy adjustments in Nigeria's petroleum sector are successfully attracting capital to long-dormant assets. In a statement endorsed by Chairman Ahmad Sajoh and Secretary Danjuma Sada, the group highlighted that the 800 million dollar Ima Gas Project has reached its Final Investment Decision (FID).
The resource, initially discovered in 1973, went undeveloped for over fifty years prior to this milestone. The TSF observed that Ima represents the fourth major gas development to secure an FID under President Bola Tinubu's administration, following the Iseni, Ubeta, and HI projects.
Project details and economic outlook
Developed through a partnership between AMNI International and TotalEnergies, the Ima project is projected to yield approximately 300 million standard cubic feet of gas daily at its peak. The Forum attributed these investments to regulatory improvements designed to enhance fiscal terms, cut project expenses, and simplify approval procedures.
Furthermore, the administration's deep offshore investment framework aims to replace case-by-case negotiations with a transparent system capable of generating up to 50 billion dollars in fresh capital. The TSF noted that expanded gas output will bolster electricity generation, feedstock for fertilizer and petrochemical facilities, and liquefied natural gas exports.
Original reporting
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Context from CEII
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Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
