The Federal Government says the country is well and uniquely poised to help address global energy challenges.
Dr Ekperikpe Ekpo, the Minister of State, Petroleum Resources (Gas), made this submission at the opening of the Nigeria Oil and Gas (NOG) Energy Week on Tuesday in Abuja.
The 25th NOG has its theme as “Forging Africa’s Strategic Energy Growth Through Global Collaboration”.
Ekpo said that the country could tackle global energy issues while unlocking unprecedented domestic prosperity.
According to him, the country has moved from a gas-possessing country to a gas-powered one.
Ekpo noted that with 215 trillion cubic feet (TCF) of proven natural gas reserves, which was the largest in Africa and among the top ten globally, the country held a highly strategic asset.
The minister said the country was aggressively directing natural gas to power domestic industries, fertiliser and petrochemical plants.
He said the natural resource was also being channeled to revolutionise commercial transportation, and provide clean cooking solutions for millions of families in the country.
”The defining question before us is not whether the world will need more energy, it will.
”The question is who will provide that energy responsibly, reliably and competitively.
”Nigeria is prepared to answer that call; we possess the resources, implementing the reforms, building the infrastructure, strengthening our institutions, and above all, creating an environment in which investment can flourish and shared prosperity can be realised.
”Nigeria is ready, Nigeria is open for business, Nigeria is investing in the future and together, let us build that future, powered by partnership, driven by innovation and sustained by the limitless potential of natural gas.
”Every cubic foot of gas utilised domestically translates directly to new local jobs, reinforced industrial output, reduced import dependency, and a higher standard of living,” he said.
Ekpo said the turning point in the sector was the enactment of the Petroleum Industry Act (PIA) 2021, which had overhauled the governance, regulatory, and fiscal architecture of the energy sector.
The minister said that by replacing ambiguity with transparent, commercially driven, and investor-friendly frameworks, the PIA had enhanced regulatory certainty.
He said the country had established a stable, competitive, and highly predictable investment environment, and called on the global investment community to invest in the country.
”Our progressive steps have recently resonated on the global stage, elevating Nigeria to the pinnacle of global energy diplomacy.’’
Ekpo said that as nations pursued decarbonisation without sacrificing energy security, global demand for Liquefied Natural Gas (LNG) had been projected to grow across Europe and Asia.
The minister said that the country did not intend to merely participate in the market but to lead it.
”The expansion of Nigeria LNG remains central to this vision.
”Building upon our current baseline capacity of 22 million tonnes per annum (MTPA), the ongoing Train 7 Project will add an explosive 8 MTPA, driving our total production capacity to 30 MTPA upon completion.
”This project significantly scales up our export capabilities and cements Nigeria’s role as a guarantor of global energy security.
”A truly competitive economy must ensure that the dividends of energy wealth are felt directly in the pockets and homes of its citizens; gas must serve the people.”
Ekpo said that no nation could achieve lasting energy security in isolation.
He noted that the future of Africa’s energy sector depended entirely on deeper regional cooperation, integrated markets, and cross-border infrastructure.
