Accelerated Investment Is Key
OpenLife News reports that Seplat Energy Plc has advised Nigeria and stakeholders to accelerate investments across the gas value chain to unlock the country’s over 215 trillion cubic feet of proven gas reserves and position it as Africa’s leading global gas powerhouse.
The Chief Executive Officer of Seplat Energy, Engr. Effiong Okon, stated this at the Gas Investment Forum (GIF) 2026 held in Lagos.
Okon, who was represented by the Director of Gas & New Energy, Mr. Okechukwu Mba, said gas in the ground does not create value until it is produced and reliably delivered to homes, factories and industries.
The forum was themed “Positioning Nigeria as Africa’s Global Gas Powerhouse.”
“Gas reserves in the ground do not power homes or factories. Gas creates value only when it is produced and reliably delivered to consumers.
“The task before us is to convert Nigeria’s vast gas endowment into tangible economic growth, industrial development and energy access for millions of people,” Okon said.
He noted that energy poverty remains a major challenge in Africa, with an estimated 600 million people in sub-Saharan Africa still without electricity.
Okon commended the Federal Government for improving investment conditions in the gas sector, particularly efforts to clear legacy debts in the gas-to-power value chain which has improved bankability of gas projects.
He also lauded recent Final Investment Decisions on major energy projects and the commencement of operations on the OB3 gas pipeline, describing it as a major milestone.
The CEO said reforms such as the Petroleum Industry Act, PIA, and the work of regulators like the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, and the Midstream and Downstream Gas Infrastructure Fund, MDGIF, have created a more transparent and investor-friendly environment.
According to him, Nigeria’s location in the Gulf of Guinea gives it a competitive advantage to serve both African and international markets, including Europe.
Okon outlined Seplat’s gas investments in the last decade, including the 375 MMscfd Oben Gas Plant, the 90 MMscfd Sapele Gas Plant and the flagship 300 MMscfd ANOH Gas Plant, which have cemented its position as a leading domestic gas supplier.
He said Seplat Energy currently supplies gas directly to six power stations and numerous industrial customers, while through ANOH it supplies gas to fertilizer manufacturers, supporting food security.
He added that the company’s acquisition of ExxonMobil’s onshore and offshore assets has boosted domestic supply of butane and LPG, while its investments in Compressed Natural Gas, CNG, infrastructure is expanding access to cleaner and cheaper energy for off-pipeline consumers.
The Seplat CEO also disclosed that the company ended routine flaring in its onshore operations at the end of 2025, leading to significant reduction in emissions intensity.
“Together, these investments demonstrate Seplat Energy’s commitment to supporting government efforts to strengthen Nigeria’s energy security and accelerate gas-led economic growth,” he said.
“Nigerians cannot wait any longer. We must move from discussions to implementation and create the partnerships and investments necessary to fully realise the promise of our gas resources,” Okon concluded.
The Gas Investment Forum brings together policymakers, regulators, investors and industry leaders to accelerate gas development and strengthen Nigeria’s role in regional and global energy markets.
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