Oluwafunbi Bello 
ABUJA, Nigeria – Nigeria’s state oil firm, Nigerian National Petroleum Company Limited, unveils plans to secure $60 billion in investment and expand gas reserves as global supply risks rise from Middle East tensions.
Speaking at CERAWeek in Houston, Executive Vice President Olalekan Ogunleye says Nigeria aims to grow reserves from 210.5 trillion cubic feet to 600 tcf.
“This plan is neither aspirational nor theoretical,” he says, stressing execution discipline.
The strategy also targets increased daily production from 7.4 to 12 billion cubic feet by 2030, positioning Nigeria as an alternative LNG supplier to Europe and Asia.
Shipping disruptions near the Strait of Hormuz have created opportunities for new suppliers, with Nigeria leveraging its proximity to key markets.
However, analysts warn that infrastructure gaps, underinvestment and pipeline vandalism remain major hurdles.
The plan signals Nigeria’s ambition to play a larger role in global energy markets, though delivery remains under scrutiny.
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Korede Abdullah 
Chukwu Obinna 