Seplat Energy Plc has urged for increased investment across Nigeria's gas value chain to harness the country's vast natural gas resources, enhance energy security, drive industrialization, and establish Nigeria as Africa's leading gas powerhouse. The company's Chief Executive Officer, Engr. Effiong Okon, emphasized that Nigeria possesses over 215 trillion cubic feet of proven gas reserves. However, the true value of these resources can only be realized through sustained investments in production, processing, transportation, and utilization infrastructure.
Addressing the Gas Investment Forum (GIF) 2026 in Lagos, Okon noted that energy poverty remains a significant challenge across Africa, with approximately 600 million people in sub-Saharan Africa lacking access to electricity. He stressed that gas reserves alone do not power homes or factories; instead, they create value when produced and reliably delivered to consumers. Okon emphasized the need to convert Nigeria's vast gas endowment into tangible economic growth, industrial development, and energy access for millions of people.
Okon commended the Federal Government's efforts to improve investment conditions in the gas sector, particularly initiatives aimed at addressing legacy debts in the gas-to-power value chain. These efforts are helping to enhance the bankability of gas projects. He also welcomed recent final investment decisions on major energy projects and described the commencement of operations on the OB3 gas pipeline as a significant milestone for Nigeria's gas industry.
The Seplat Energy CEO highlighted the role of policy reforms, especially the Petroleum Industry Act (PIA), in creating a more transparent and investor-friendly environment for gas investments. Institutions such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Midstream and Downstream Gas Infrastructure Fund (MDGIF) are helping to strengthen regulatory certainty and close infrastructure gaps across the sector.
Okon emphasized Nigeria's strategic location in the Gulf of Guinea, which provides a unique advantage in serving both regional and international gas markets, including Europe. He also noted that the country is well-positioned to support growing energy demand across Africa. Seplat Energy has made significant investments in gas infrastructure over the past decade, including the 375 MMscfd Oben Gas Plant, the 90 MMscfd Sapele Gas Plant, and the flagship 300 MMscfd ANOH Gas Plant.
These investments reinforce Seplat Energy's position as one of Nigeria's leading domestic gas suppliers. The company currently supplies gas directly to six power stations and supports numerous industrial customers through gas distribution networks. Through the ANOH Gas Plant, Seplat Energy also supplies gas to fertilizer manufacturers, contributing to Nigeria's food security objectives.
Seplat Energy's push for increased investment in Nigeria's gas sector is crucial for unlocking the country's vast natural gas resources and driving economic growth. The company's efforts, combined with government initiatives and policy reforms, aim to position Nigeria as Africa's leading gas powerhouse and address the pressing issue of energy poverty across the continent.
Key points
- Seplat Energy calls for increased investment in Nigeria's gas sector to unlock vast natural gas resources.
- Nigeria possesses over 215 trillion cubic feet of proven gas reserves.
- Energy poverty remains a significant challenge across Africa, with approximately 600 million people lacking access to electricity.
