The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that Nigeria requires a $200 billion investment in gas infrastructure to fully maximize its natural gas resources.
This was disclosed by NEITI's Executive Secretary, Dr. Orji Ogbonnaya Orji, during the presentation of the 2021–2023 Oil, Gas, and Solid Minerals report to the Senate Public Accounts Committee, chaired by Senator Aliyu Wadada Ahmed.
Despite being the ninth-largest gas producer globally and the top in Africa, Nigeria lacks the necessary infrastructure to harness its gas potential.
The report also comes as the Senate criticized the less than 1% contribution of solid minerals to the nation's GDP.
” Based on NEITI’s findings, Nigeria needs to invest at least $ 20 billion per year into gas infrastructure for ten years
” The only thing that Qatar Energy does is gas processing through required infrastructure.
” So, in Nigeria, what we need, is to invest in gas infrastructure to evacuate gas. Our study shows that we need an initial investment of $20 billion annually for 10 years to be able to generate the kind of gas infrastructure required to provide gas for the whole of Africa and beyond.