Seplat Energy Plc has called for increased investment in Nigeria’s gas sector, saying stronger funding across the value chain is essential to improve energy security, support industrial growth and position the country as a leading gas hub in Africa.
Speaking at the Gas Investment Forum (GIF) 2026 in Lagos, the company’s Chief Executive Officer, Engr. Effiong Okon, said Nigeria’s more than 215 trillion cubic feet of proven gas reserves could deliver greater economic benefits if investments in production, processing, transportation and utilisation are significantly expanded.
Okon, who was represented at the forum by Seplat Energy’s Director of Gas and New Energy, Mr. Okechukwu Mba, said gas development remained critical to addressing Africa’s energy challenges.
He noted that about 600 million people across sub-Saharan Africa still lack access to electricity, stressing that having gas reserves underground would not solve the problem unless the resources were developed and delivered reliably to homes, businesses and industries.
He called for greater collaboration among government, energy companies and financial institutions to convert Nigeria’s gas resources into electricity, industrial output, jobs and broader economic opportunities.
Okon commended the Federal Government for measures aimed at improving the investment climate in the gas sector, particularly efforts to address outstanding debts within the gas-to-power value chain.
He said resolving the financial challenges had the potential to improve the viability of gas projects and attract additional investment into the industry.
The Seplat Energy CEO also welcomed recent final investment decisions on major energy projects, while describing the commencement of operations on the OB3 gas pipeline as an important development for Nigeria’s gas infrastructure.
He pointed to reforms under the Petroleum Industry Act (PIA) as another step towards creating a more transparent and attractive environment for investors.
According to him, institutions such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Midstream and Downstream Gas Infrastructure Fund (MDGIF) are also contributing to greater regulatory certainty and efforts to address infrastructure gaps.
Okon said Nigeria’s location in the Gulf of Guinea gives it an advantage in supplying gas to domestic, African and international markets, including Europe.
He highlighted Seplat Energy’s investments in domestic gas infrastructure, including its 375 million standard cubic feet per day (MMscfd) Oben Gas Plant, 90 MMscfd Sapele Gas Plant and 300 MMscfd ANOH Gas Plant.
He said the company currently supplies gas directly to six power plants and several industrial customers through its distribution network.
The ANOH Gas Plant also supplies gas to fertiliser producers, supporting efforts to strengthen agricultural production and food security.
Okon added that Seplat’s acquisition of ExxonMobil’s onshore and offshore assets had expanded domestic supplies of butane and liquefied petroleum gas (LPG), while investments in compressed natural gas (CNG) infrastructure were helping extend access to cleaner energy for consumers outside pipeline networks.
He further disclosed that Seplat ended routine gas flaring across its onshore operations by the end of 2025, contributing to a reduction in the company’s operational emissions intensity.
Okon urged stakeholders to move beyond policy discussions and accelerate the partnerships and investments required to develop Nigeria’s gas resources.
He said converting the country’s gas reserves into reliable electricity and industrial energy would be critical to achieving sustainable economic growth and strengthening Nigeria’s position in the global gas market.
