The Presidency announced that Nigeria’s 209 trillion cubic feet of gas reserves are central to its energy transition and economic diversification plans. Mrs. Olu Verheijen, Special Adviser on Energy, highlighted the government’s efforts to boost investor confidence through improved policies like Presidential Directives 40-42. She cited projects like the Betafield Final Investment Decision, which will supply 350 million scuffs of gas per day, as key examples.
The Betafield and Ubeta gas projects aim to boost Nigeria’s domestic gas supply and strengthen its global energy role. Special Adviser Olu Verheijen highlighted reforms like the Presidential CNG Initiative and LPG incentives that have expanded LPG access to 12 million homes, displaced diesel and firewood, and created jobs. Key infrastructure projects—including OB3, AKK Pipeline, and ALPS looping—are unlocking gas for power and industry, supported by the Midstream and Downstream Gas Infrastructure Fund (MDGIF). The government targets producing 10 billion cubic feet of gas per day by 2030, leveraging onshore, associated, and deepwater non-associated gas.
Efforts to reduce oil theft are improving hydrocarbon delivery, while crude oil production currently stands at 1.5–1.7 million barrels per day, with a goal of 4 million barrels per day.President Tinubu signed the 2025 Upstream Petroleum Cost Efficiency Order to cut project costs, boost investment, and increase oil and gas revenue. It offers tax incentives for operators achieving verified cost savings and builds on 2024 reforms that improved fiscal terms and project timelines.
