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NNPC eyes $60bn investment, targets 600tcf in new master plan

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The Nigerian National Petroleum Company Limited (NNPC) has unveiled plans to grow Nigeria’s gas reserves from 210 trillion cubic feet (tcf) to 600 tcf, while attracting approximately $60 billion in investments into the sector.

According to NNPC’s X handle on Friday, the disclosure came from NNPC’s Executive Vice President for Gas, Power & New Energy, Olalekan Ogunleye, during the CERAWeek energy conference by S&P Global in Houston. Speaking on a panel titled “The New Gas Order: Market Depth and the Reshaping of Global Trade”, Ogunleye emphasized Nigeria’s strategic position in the global gas market.

“With the ongoing Strait of Hormuz shipping constraints stemming from geopolitical tensions in the Middle East, Nigeria is uniquely positioned to become a major supplier of LNG and gas-based industries,” Ogunleye said. “Our abundant gas resources, combined with our proximity to key markets, give Nigeria a competitive advantage in the global energy landscape.”

Ogunleye outlined the key deliverables of the NNPC Gas Master Plan, noting, “We aim to move Nigeria’s validated gas reserves from 210.5 tcf to an estimated potential of 600 tcf.”

“Our goal is to increase gas production volumes from 7.4 billion standard cubic feet per day (bscfd) to 12 bscfd by 2030, exceeding the Federal Government’s mandate for 62% growth.”

“We are committed to attracting $60 billion in additional investments into the gas sector through commercial incentives and strategic partnerships,” Ogunleye averred.

He stressed that the Gas Master Plan is grounded in disciplined execution rather than ambition alone. “This plan is neither aspirational nor theoretical.

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“Its success depends on applying execution discipline to our annual work plans to ensure we meet—and surpass—our gas development growth targets,” the executive vice president for AGS, power & new energy said.

With these strategic moves, Nigeria is positioning itself to play a more significant role in global LNG supply and the gas-based industrial sector, leveraging both its natural resources and geographic advantage.

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N1.8tn debt: Reps signal imminent contractor payments

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There are fresh indications that contractors owed by the Federal Government for capital projects executed in the 2024 fiscal year may soon receive part payment, as members of the House of Representatives say funds could be released this week.

The Federal Government had earmarked N1.8tn in the 2026 Appropriation Bill to settle outstanding liabilities to contractors, comprising a N1.7tn allocation for 2024 capital projects and N100bn for other local contractor debts.

The lawmakers, who spoke separately, declined to state the amount likely to be disbursed but expressed cautious optimism that the long-awaited payments would finally begin.

The development comes amid mounting pressure on the Federal Government over the failure to clear verified debts owed to indigenous contractors, many of whom have complained of severe financial strain after delivering projects across the country.

Leader of the North-West caucus in the House, Sada Soli, confirmed awareness of imminent payments but said details remained unclear.

“I am aware of it (likely payment), but I don’t know how much they’re talking and committing to the implementation of the budget,” Soli, who represents Jibia/Kaita Federal Constituency of Katsina State, said.

Also speaking, the lawmaker representing Ideato North/Ideato South Federal Constituency of Imo State, Ikenga Ugochinyere, lamented the impact of the delayed payments on constituency projects and lawmakers’ credibility before their constituents.

“Lawmakers have suffered from delays in paying contractors working to execute constituency projects, but I have been told certain payments will likely be made this week. I hope it comes to light to help complete development projects across the constituencies,” Ugochinyere told The PUNCH.

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Similarly, Terseer Ugbor, who represents Kwande/Ushongo Federal Constituency in Benue State, expressed frustration over repeated assurances by government officials which have yet to materialise.

“It’s been failed promises, but we hope contractors will start receiving payments soon. So far, I can’t confirm any payments yet,” he said.

Also contributing, a lawmaker who declined to be named said, “Some amounts of money may be released on Friday, but no one knows how much it is, for now.”

He called on the Federal Government to do the needful by paying all outstanding debt to contractors so that new projects can begin.

The payment crisis dates back to the 2024 budget cycle, during which hundreds of contractors executed capital and constituency-based projects, many tied to zonal intervention projects facilitated by federal lawmakers.

Despite completing and, in several cases, delivering these projects, contractors have struggled to receive payment, triggering widespread dissatisfaction across the country.

The situation worsened throughout 2025, as repeated assurances from the Ministry of Finance and the Office of the Accountant-General failed to translate into actual disbursements.

The Minister of Finance, Wale Edun, and the Accountant-General of the Federation, Shamseldeen Ogunjimi, had at various times indicated that arrangements were underway to clear the backlog, but payments did not materialise as expected.

The delays not only stalled ongoing and planned projects but also placed lawmakers under intense pressure from their constituents, many of whom blamed them for the non-completion of projects already awarded and executed.

Frustration over the unpaid debts eventually spilt onto the streets of the National Assembly Complex, where aggrieved contractors staged protests in December 2025 and January 2026.

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Carrying placards and chanting slogans, the protesters accused the government of neglecting indigenous contractors and jeopardising local businesses that had taken loans to finance public projects.

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Read Tinubu’s unveiled plan to turn flood Threat into economic goldmine

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President Bola Ahmed Tinubu has declared Nigeria’s intention to transform its perennial flood crisis into a driver of economic growth, unveiling a bold vision to shift from an oil-dependent economy to one powered by water resources.

Speaking at the 2026 Annual Flood Outlook (AFO) presentation by the Nigeria Hydrological Services Agency in Abuja, the president , represented by the Minister of Environment, Balarabe Abbas Lawal said flood management is now central to national development and food security.

Describing the event as a “significant milestone,” Tinubu linked his administration’s flood control strategy to its broader 8-point agenda, particularly the goal of achieving food security through strengthened water resource management.

Nigeria has grappled with devastating floods since 2012, a crisis the president said his administration is confronting through targeted policies and nationwide flood control projects.

He noted that high-risk states including Adamawa, Benue, Kogi, Bayelsa and Rivers have received focused intervention.

Tinubu highlighted what he described as measurable progress in agriculture, attributing improved yields to sustained efforts in managing water resources and mitigating flood risks.

A major turning point, according to him, was the 2024 Maiduguri flood disaster, which forced a shift from reactive to proactive flood management.

This has led to the adoption of “anticipatory action” , a coordinated early-warning and response system spearheaded by the Office of the Vice-President, in collaboration with security agencies, development partners and disaster management stakeholders.

The president explained that the  Annual Flood Outlook issued by NIHSA, is  a critical tool for early preparedness, mitigation and coordinated response across all 36 states, the Federal Capital Territory and the 774 local government areas.

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Tinubu challenged key ministries, including Water Resources and Marine and Blue Economy, to develop actionable frameworks that will unlock Nigeria’s vast water potential for economic diversification.

He stressed that with effective management of waterways and natural resources, Nigeria can gradually reduce its dependence on oil and build a resilient, water-based economy.

The president also called on citizens, institutions and communities to take collective responsibility in flood preparedness, environmental protection and climate resilience.

“Let us join hands to make Nigeria a flood-safe nation,” he said, urging proactive measures to protect vulnerable populations and strengthen national resilience against climate-induced disasters.

The 2026 AFO, themed, “Smart Water Resources Management: Moving from Oil to Water-Based Economy,” provides nationwide flood forecasts and risk insights aimed at guiding early action ahead of the rainy season.

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NEPC, trade centre partner stakeholders on sesame, cowpea export compliance

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The Nigerian Export Promotion Council (NEPC), in collaboration with the International Trade Centre, has commenced a two-day needs assessment and validation workshop aimed at strengthening communication strategies on sanitary and phytosanitary compliance for sesame and cowpea exports.

The workshop, which began on Tuesday in Kano, brought together farmers, exporters, associations, and development partners to address challenges affecting export quality and reduce the rejection of Nigerian agricultural produce in international markets.

Speaking at the opening, the Executive Director/Chief Executive Officer of NEPC, Nonye Ayeni, said the initiative was designed to identify gaps and improve coordination in addressing sanitary and phytosanitary issues within the sesame and cowpea value chains.

“This two-day event aims to identify gaps, overlaps, and areas for synergy in addressing SPS issues in the sesame and cowpea value chains.

“We will also identify the most effective communication and information framework for raising awareness on SPS compliance issues as they relate to these value chains”, she said.

She noted that effective communication was critical to improving compliance and ensuring that stakeholders are properly informed about local and global standards.

“The importance of effective communication and dissemination of information to sesame and cowpea value chain actors cannot be overemphasised. At the end of the sessions, we expect to have an efficient, impactful, and all-inclusive communication awareness strategy,” Ayeni added.

The NEPC boss highlighted the council’s role in promoting non-oil exports, stating that Nigeria recorded a non-oil export value of $6.1bn in 2025, the highest in its history.

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“Export volume also reached a record 8.02 million metric tonnes. We exported 281 products to 120 countries, including 11 ECOWAS countries and 32 African countries,” she said.

She added that the council had expanded its operations nationwide to support exporters and had facilitated international certifications for over 210 exporters in areas such as Halal, FDA, and ISO standards.

Ayeni explained that the workshop was part of the STDF 845 initiative launched in 2024 to address compliance challenges in sesame and cowpea exports, with NEPC serving as the implementing agency.

“Working with agencies such as SON, NAFDAC, and NAQS, we have seen a drastic reduction in export rejection. The lessons learned from this project will be extended to other value chains,” she said.

She also commended the International Trade Centre for its continued partnership and support across various projects.

Briefing journalists, the Director of Product Development at NEPC, Macpherson Fred, said the programme was structured as a two-in-one engagement targeting both upstream and downstream actors in the sesame and cowpea value chains.

“This programme is a two-in-one engagement. The communication and awareness workshop, which started on April 14 and will end on April 15, is focused on farmers and primary producers.

“From April 16 to 17, we will also conduct export quality management training for exporters, aggregators, and other downstream actors to strengthen their capacity to meet international standards,” he said.

He said the initiative became necessary due to persistent challenges affecting Nigeria’s agricultural exports, including past export bans and quality compliance issues.

“You will recall that in 2015, there was a ban on cowpea exports to the European Union, while in the sesame value chain, issues relating to pesticide residue levels have led to export rejections at international borders,” he said.

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Fred added that the partnership between NEPC and ITC was aimed at improving compliance and boosting Nigeria’s competitiveness in the global market.

“Our goal is to improve sanitary and phytosanitary compliance to ensure Nigerian exports meet destination market requirements and achieve zero rejection at international borders,” he added.

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