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Nigeria’s 215 trillion cubic feet (Tcf) of proven gas reserves will have little economic value unless the country overcomes infrastructure, financing, regulatory and market-access constraints limiting their development, Minister of State for Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has said.
Ekpo, stated this at the 2026 NAEC Energy Conference in Lagos yesterday, with the theme “Access to Assets: Empowering Players and Driving Growth,”.
The minister who was represented by his Senior Technical Assistant, Mr.Abel Nsa, pointed out that Nigeria must move beyond merely possessing vast gas resources to ensuring that they are effectively accessed, developed, financed and converted into electricity, industrial feedstock, jobs, revenues and exports.
He noted that the country’s proven gas reserves stood at approximately 215 TCF as of January 2026, stressing that the real value of the resources was not what was beneath the ground but Nigeria’s ability to convert them into economic opportunities.
The minister said this would require a broader understanding of “access to assets”, noting that securing a licence or acreage does not automatically translate into the ability to develop the asset.
According to him, an investor may possess an asset but still be unable to develop it because of inadequate infrastructure, financing constraints, regulatory uncertainty, limited evacuation capacity or insufficient market access.
“Our objective must consequently be to create an ecosystem where access to resources is matched by access to infrastructure, capital, markets and predictable regulation,” he said.
Ekpo said this was central to the Federal Government’s Decade of Gas Initiative, which seeks to transform Nigeria from a country merely rich in gas resources into one rich in gas-based economic opportunities.
He said gas must increasingly become a catalyst for industrialisation, power generation, transportation, manufacturing, fertiliser production, LPG adoption and other productive activities.
The minister identified the AKK and OB3 gas pipelines as critical infrastructure projects required to strengthen the national gas network and connect supply with major demand centres.
“Infrastructure is the bridge between our resources and the industries, power plants, businesses and households that need them,” he said.
On investment, Ekpo said the reforms introduced under the Petroleum Industry Act (PIA) 2021, alongside targeted fiscal and regulatory measures for gas development, were aimed at improving competitiveness, reducing barriers and enhancing project bankability.
He assured credible investors that Nigeria remained open to responsible investment in the gas sector.
However, he acknowledged that government could not develop the sector alone, stressing the need for private-sector capital, technology, expertise and commercial discipline.
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He also called for stronger collaboration among regulators, financial institutions, development partners and industry players to ensure that viable gas projects progress from conception to final investment decision and ultimately production.
Ekpo further called for wider participation in the gas economy, saying opportunities should not be restricted to a few large players.
He said indigenous companies, independent producers, infrastructure developers, technology providers and emerging energy businesses must be empowered to participate more actively in the sector.
According to him, greater participation by Nigerian players would deepen competition, strengthen local capacity and ensure that a larger share of the value created in the energy sector remains within the Nigerian economy.
The minister also stressed the need to maximise domestic gas utilisation, rather than treating gas primarily as an export commodity.
He identified gas-to-power, LNG, LPG, CNG, fertiliser, petrochemicals and other gas-based industries as areas with significant potential for investment, industrial development and job creation.
Ekpo said the government’s efforts to expand LPG access and promote CNG adoption were designed to bring the benefits of Nigeria’s gas resources closer to ordinary Nigerians.
“Our ambition is to ensure that gas is not simply produced in Nigeria, but that Nigerians can use it, build businesses around it and benefit economically,” he said.
On local participation, the minister said Nigerian Content must evolve beyond participation in contracts to ownership of capabilities, technology, capital and assets.
He also stressed the need for host communities to receive tangible benefits from petroleum operations, describing this as essential to building a sustainable and inclusive industry.
Ekpo said the government’s responsibility was to provide policy certainty, regulatory clarity, infrastructure and an enabling environment, while industry players were expected to provide capital, innovation, efficiency and a commitment to developing Nigeria’s resources responsibly.
“Nigeria has the resources; what we need now is to unlock their full value,” he said.
He said the country must move from access to assets, to development of assets; from development to utilisation; and from utilisation to broad-based economic growth.
