Seplat Energy Plc has urged for accelerated 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, Mr. Effiong Okon, emphasized that Nigeria's over 215 trillion cubic feet of proven gas reserves can only be fully utilized 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 in 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 but create value when produced and reliably delivered to consumers. The task, he said, is to convert Nigeria's substantial 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, which are enhancing the bankability of gas projects. He also welcomed recent Final Investment Decisions (FIDs) on major energy projects and described the commencement of operations on the Obiafu-Oben-Obtikom (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, giving it a unique advantage in serving both regional and international gas markets, including Europe, while supporting growing energy demand across Africa. He also outlined Seplat Energy's significant investments in gas infrastructure over the past decade, including the 375 million standard cubic feet per day (MMscfd) Oben Gas Plant, the 90 MMscfd Sapele Gas Plant, and the flagship 300 MMscfd ANOH Gas Plant.
These investments reinforce Seplat'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 also supplies gas to fertilizer manufacturers, contributing to Nigeria's food security objectives.
Seplat Energy's drive for increased investment in Nigeria's gas sector aligns with the company's goal of supporting the country's economic growth and energy security. With the right investments, Nigeria can unlock its vast gas resources, drive industrialization, and become Africa's leading gas powerhouse.
Key points
- Seplat Energy Plc calls for increased investment in Nigeria's gas value chain.
- Nigeria has over 215 trillion cubic feet of proven gas reserves.
- Seplat Energy has invested significantly in gas infrastructure, including the Oben Gas Plant and ANOH Gas Plant.
