President Bola Tinubu has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, describing it as a significant milestone in his administration's efforts to harness Nigeria's vast gas resources for economic growth. The project, developed by Nigerian independent AMNI International in partnership with TotalEnergies, is expected to produce 300 million standard cubic feet of gas per day at peak. This development marks a major step in converting Nigeria's gas potential into jobs, industrialization, and revenue.
The Ima gas resource, located offshore in OMLs 112 and 117, was discovered in 1973 but remained undeveloped for over five decades. Despite its substantial reserves and potential as feedgas for Nigeria LNG Limited, the project had not moved forward until now. According to the Presidency, the FID, announced on September 23, 2026, changes this narrative. This project is the fourth major gas project to reach FID since President Tinubu assumed office, following the Iseni, Ubeta, and HI FIDs, reflecting growing momentum in the gas sector.
President Tinubu emphasized that for over 50 years, the gas beneath Ima remained a resource with enormous potential, but potential alone does not create jobs, finance businesses, or improve lives. His administration's responsibility has been to create conditions that turn Nigeria's natural resources into productive investments and economic opportunities. The President noted that the FID on Ima demonstrates what is possible when investors are provided with a competitive, predictable, and enabling environment.
Since assuming office, Tinubu has prioritized reforms to reverse years of underinvestment in the oil and gas industry. Although the Petroleum Industry Act of 2021 laid a foundation, several projects lacked the fiscal and commercial conditions to become viable. In 2024, the President issued a series of Presidential Directives aimed at improving fiscal competitiveness, shortening contracting timelines, and reducing costs. These reforms have contributed to the Ima project's progress.
Special Adviser to the President on Energy, Ms Olu Arowolo Verheijen, said the Ima story illustrates the impact of the reforms. She noted that Nigeria has never lacked resources, but the challenge has been creating the commercial and investment conditions required to move those resources into projects that employ Nigerians. Verheijen added that the project demonstrates growing Nigerian participation across the energy value chain, with AMNI International holding majority interest in the asset.
The project also highlights local financing and workforce participation, with Nigerian financial institutions arranging 77% of the project's financing. Around 60% of the project workforce is expected to come from host communities, including Bonny, Finima, and Andoni in Rivers State. This development aligns with the Tinubu administration's gas strategy, which focuses on producing more gas and putting it to work to support LNG exports, industrial feedstock, fertilizer and petrochemical production, power supply, and business opportunities.
President Tinubu concluded that natural resources have value only when they are converted into opportunities for the people. His goal is to ensure that Nigeria's gas powers Nigerian prosperity. The Ima Gas Project is a significant step towards achieving this goal, and the administration is expected to continue unlocking more of Nigeria's gas resources to drive economic growth and development.
Key points
- President Tinubu welcomes $800m IMA Gas FID, citing progress in unlocking Nigeria's gas resources.
- The Ima Gas Project is expected to produce 300 million standard cubic feet of gas per day at peak.
- The project demonstrates growing Nigerian participation across the energy value chain.
