Nigeria's gas reserves hit 215.19 trillion cubic feet, officials say

Nigeria's proven natural gas reserves have grown to 215.19 trillion cubic feet, up from 208.83 trillion cubic feet in 2023, according to the federal government. Officials put the figure at 215.19 trillion cubic feet as of January this year, with average daily output of about 7.5 billion cubic feet.

The figures were presented in Kano on Saturday at a media briefing organised by the Decade of Gas Secretariat and the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (PI-CNG & EV). About 27 journalists from radio, television, print and online outlets attended the session, the first of its kind in Kano after earlier ones in Lagos, Abuja and Port Harcourt.

Taofeek Balogun, who leads infrastructure and demand at the Decade of Gas Secretariat, said gas supplied within Nigeria now tops two billion cubic feet a day. He credited the gains to policies under President Bola Tinubu and the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo.

What the numbers mean for households

Balogun said about $3.5 billion has been committed to four major gas projects. The OB3 pipeline is finished, he said, while the AKK pipeline is roughly 95 per cent complete. He added that N671 billion of public money has drawn in about N1.6 trillion of private investment.

On cooking fuel, he said a programme to reach five million households by 2030 has started in Bayelsa and Akwa Ibom, with 27,000 cooking gas cylinders handed out so far. The government is also working towards a market where buyers and sellers agree gas prices freely, with a target date of September 24, 2028.

Tosin Coker, chief operating officer of PI-CNG & EV, said gas remains central to cutting transport costs and improving energy security. He said 670 CNG buses have been rolled out nationwide, including 285 running commercially in 13 states and 302 given to transport unions, students and government agencies. More buses and tricycles are on order, he said.

According to Coker, fares on routes covered by the National Affordable CNG Transition Programme have dropped by between 15 and 50 per cent. He said 127 more refuelling stations are planned across 31 states and the FCT.

Kano is leading the Northwest with seven working CNG stations, Coker said, and 17 more are at different stages of completion. Another 25 buses have been sent to the state.

On safety, Coker urged drivers to use only certified conversion centres, approved equipment and properly maintained vehicles.

What happens next

The government is watching the 2028 gas market target and the build-out of CNG stations. For now, the savings on fares apply only to routes already covered by the programme.