Follow Us on Google
The 25th edition of NOG Energy Week ended with investment commitments and commercial agreements worth more than US$4.5 billion, underscoring Nigeria’s growing role as a destination for energy investment and reinforcing Africa’s drive to unlock its vast energy potential through global partnerships.
Organisers said the milestone, achieved during the week-long conference themed “Forging Africa’s Strategic Energy Growth Through Global Collaboration,” reflected the event’s evolution from a policy dialogue platform into a marketplace where major energy transactions are concluded.
The deals cut across the oil and gas value chain, with gas and liquefied natural gas (LNG) accounting for about 39 per cent of the total investment value, followed by upstream projects at 31 per cent, midstream at 16 per cent, engineering and technology at 10 per cent, and downstream activities at 4 per cent.
The investment pattern, according to the organisers, highlights growing investor confidence in gas as the cornerstone of Africa’s energy transition strategy.
Among the headline transactions was a 15-year Gas Sale and Purchase Agreement signed by the NNPC Limited/Seplat Energy Joint Venture and UTM FLNG Limited to supply 200 million standard cubic feet of gas per day to Nigeria’s first floating liquefied natural gas project.
The agreement is expected to pave the way for the project’s Final Investment Decision (FID) in the fourth quarter of 2026.
Also announced during the event was a US$1 billion investment by Esso Exploration and Production Nigeria, an affiliate of ExxonMobil, alongside partners Chevron, TotalEnergies and Nexen, for the Usan Infill Project, a deepwater development expected to increase Nigeria’s crude oil production by about 40,000 barrels per day.
The project represents ExxonMobil’s first major drilling campaign in Nigeria since 2016.
In addition, NNPC Limited signed a Memorandum of Understanding and a Gas Sale and Aggregation Agreement with Ajaokuta Steel Company Limited, as well as Network Entry Agreements with Chevron Nigeria Limited, AGPC and NNPC Exploration & Production Limited (NEPL).
Speaking during the signing ceremonies, the Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, said the agreements would accelerate Nigeria’s industrial development.
“What we are witnessing today is not just about signing agreements. It is about igniting the engine of Nigeria’s industrialisation,” he said.
At the opening ceremony, Ojulari stressed the importance of collaboration in unlocking the continent’s energy resources.
“This year’s NOG Energy Week theme could not be more timely. The conversation around collaboration, investment and innovation remains central to unlocking Africa’s energy potential and delivering sustainable access for its people.”
Nigeria’s Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, said the conference had become a defining platform for shaping the country’s energy future.
“I want to extend my gratitude to the visionaries who, 25 years ago, conceived the idea that Nigeria’s energy story deserved an identity of its own. That vision gave birth to the annual NOG Energy Week, and it is the reason we are all gathered here today.”
His counterpart, the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, described natural gas as the critical fuel for balancing energy security with sustainability.
“The future belongs not to economies that choose between energy security and sustainability, but to those that successfully deliver both. Natural gas has emerged as the indispensable bridge connecting these two objectives.”
Portfolio and Country Director of dmg Nigeria Events, Wemimo Oyelana, said the event had become a catalyst for investment and project execution across Africa’s energy industry.
“NOG Energy Week exists to spark the partnerships that move energy projects from ambition to delivery. Every deal signed this week is capital, jobs and energy security in motion for Nigeria and the continent.”
Celebrating its 25th anniversary this year, NOG Energy Week attracted more than 7,500 participants, including 2,000 conference delegates, 300 exhibitors, 150 speakers and representatives from 85 countries, further cementing its position as one of Africa’s leading energy investment and policy platforms.
Organisers said the record US$4.5 billion in agreements demonstrates that Africa’s energy sector is increasingly moving beyond discussions to concrete investments capable of boosting energy security, industrial growth and economic development across the continent.
