In a significant shift for Nigeria’s energy landscape, indigenous ownership in the country’s gas sector has surged from 69% to 83% within a year, signalling increased local participation and confidence in the sector.
Special Adviser to the President on Energy, Olu Verheijen, made the disclosure on Wednesday while speaking at the 2025 Africa CEO Forum in Abidjan, Côte d’Ivoire.
According to her, the Nigerian government’s ongoing reforms and policy clarity have not only empowered local stakeholders but also attracted substantial international investment.
“In just one year, we’ve seen an $8 billion inflow—about N12.8 trillion—into deepwater and gas projects through Final Investment Decisions (FIDs),” Verheijen said.
She emphasized that the spike in local equity underscores the government’s commitment to energy transition goals while ensuring Nigerians benefit directly from their natural resources.
“These investments are a direct result of deliberate policy actions to improve investor confidence and reduce barriers to local participation,” she noted.
The developments come amid Nigeria’s broader push to leverage its gas reserves for economic diversification and energy security, with key stakeholders praising the move as a step toward sustainable growth.
