Nigeria’s Gas Reserves Key to Economic Growth, Says NNPC Boss

 

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Engr. Bashir Ojulari, has stated that Nigeria’s abundant natural gas reserves will play a pivotal role in driving the country’s economic growth and strengthening Africa’s energy security.

Speaking on Tuesday at the Nigeria International Energy Summit 2026 in Abuja, Ojulari described Nigeria as a major energy player, with an estimated 37 billion barrels of crude oil and 209 trillion cubic feet of gas. He said these resources position the country to support both continental development and global energy stability.

“Nigeria’s pathway to a prosperous future lies in leveraging our resource abundance. Gas is at the heart of this strategy. It is our bridge to a cleaner future, our engine for industrialisation, and our foundation for export-led growth,” Ojulari said.

He noted that natural gas provides a practical solution for expanding domestic industries, ensuring reliable power supply, boosting export earnings, and supporting a cleaner energy mix.

The annual summit, now in its ninth edition, serves as the Federal Government’s flagship platform for energy policy dialogue, investment promotion, and innovation. This year’s theme is “Energy for Peace and Progress: Securing Our Shared Future,” with NNPC Ltd as the national sponsor.

Ojulari highlighted that NNPC’s gas-focused strategy is expected to energise homes, revive manufacturing, support fertiliser production, and increase foreign exchange inflows. He pointed to key infrastructure projects, including the Ajaokuta–Kaduna–Kano pipeline, the OB3 pipeline, the expansion of the Escravos–Lagos Pipeline System, and other regional networks, describing them as “highways for economic opportunity.”

He added that sustained investments in gas processing, utilisation, and liquefied natural gas projects are improving supply reliability and reinforcing Nigeria’s status as a regional energy hub.

Addressing broader global concerns, Ojulari linked energy security to peace and economic stability, calling for a people-centred approach to energy transition in developing countries. He noted that over 600 million Africans still lack access to electricity, making conventional transition models unsuitable for the continent.

“Our strategy must be just and equitable—one that powers industries, transforms agriculture, improves transportation, and unlocks the creativity of Africa’s youth,” he said.

Ojulari warned that energy transition plans that ignore affordability and access could hinder development and worsen poverty. He reaffirmed Nigeria’s commitment to a growth path that balances industrial expansion with environmental responsibility and regional cooperation, using energy as a tool for shared prosperity.