Nigeria, others woo investors for gas project

Nigeria’s ambitious gas agenda was presented to a large gathering of oil and gas stakeholders and policy makers at the international roundtable on natural gas – hosted by the African Energy Chamber (AEC) and Russian-based global energy giant Gazprom in Johannesburg.

Also, other key speakers supported various gas development projects in the continent who also emphasized that gas does not represent a transitionary resource but rather the fuel of the future for Africa.

During the important discussion, presentations were delivered by high-level representatives from Nigeria Mozambique and South Africa all of whom made a strong case for gas-directed investment and strengthened Africa-Russia cooperation.

Nigeria’s representative stated that the country has embarked on an ambitious gas agenda of its own, with projects being driven under the country’s ‘Decade of Gas’ initiative – a framework for amplifying investment and development across the entire gas value chain on the back of policy clarity.

Despite offering significant resources, lack of investment has limited development in Nigeria.

According to Dahiru Moyi, Advisor to the Minister of Federal Ministry of Finance, Budget and National Planning, “Africa does not have much funding, but we have resources. This is why it is important to come up with new approaches.”

Moyi stated that traditionally, Gazprom has not been able to operate in Nigeria due to lack of policy, a trend which has now been eliminated with the implementation of the Petroleum Industry Act (PIA) in 2021.