As Nigeria accelerates its “Decade of Gas” vision, energy leaders and stakeholders are calling for a complete transformation of the country’s gas investment model — one that ensures profitability, accessibility, and long-term sustainability.
This urgent message echoed strongly during a panel discussion at the Annual Energy Conference of the Association of Energy Correspondents of Nigeria (NAEC) in Lagos, where executives from Sahara Group, Neconde Energy Limited, Rainoil Limited, and Eterna Plc stressed that the future of Nigeria’s gas industry depends on making domestic gas investments bankable and commercially viable.
From Vision to Viability
Panelists agreed that while Nigeria holds vast natural gas reserves, the missing link lies in creating structures that convert these resources into profitable ventures capable of delivering real value to investors and consumers alike.
Kola Adesina, Managing Director of Sahara Power Group, noted that sustainable energy growth across Africa hinges on collaboration, policy reform, and technology adoption. Represented by Bethel Obioma, Sahara’s Head of Corporate Communications, Adesina emphasized that “bankable investments are central to sustainability,” urging African nations to implement governance frameworks that guarantee returns, stability, and transparency in the energy market.
He further highlighted the need for technological innovation to expand Africa’s energy mix, combining traditional fuels with renewable sources to power underserved communities and strengthen regional energy independence.
Bankability as the Cornerstone of the Gas Market
Echoing this, Engr. Chichi Emenike, Acting Managing Director and Gas Asset Manager at Neconde Energy, stressed that gas projects must be structured to yield tangible commercial benefits. She explained that the capital required to bring gas to homes and power plants must produce reasonable returns to attract investors — a prerequisite for sustainability in the sector.
The Domestic Challenge: Making Gas Work for Nigerians
For Olumide Adeosun, CEO of Eterna Plc, the conversation must also address the realities facing Nigerian households. He explained that the transition from traditional fuels to cleaner gas options demands upfront capital many low-income families simply cannot afford.
According to him, Nigeria’s limited production of gas cylinders and cookers further compounds the problem, slowing down the government’s gas penetration efforts. “Millions of households are willing to adopt cleaner energy, but the cost barrier keeps them trapped with kerosene and firewood,” he lamented.
Adeosun urged the government to incentivize conversions of heavy vehicles and industrial equipment to Compressed Natural Gas (CNG) while supporting low-income families with adoption kits — including cylinders, stoves, and cookers — to ease the cost of switching.
He also proposed that future and existing housing estates be required to integrate gas infrastructure into their designs, creating a structured demand network that encourages investment in Liquefied Petroleum Gas (LPG) and CNG distribution.
Bridging the Gap Between Policy and Access
The panelists agreed that Nigeria’s gas agenda can only succeed if the government, private sector, and financiers work together to develop common infrastructure that delivers gas to last-mile consumers. Without such coordinated action, they warned, the nation’s campaign for gas penetration may fail to achieve its intended goals.
The Presidential Compressed Natural Gas (PiCNG) Initiative, launched to popularize gas as a transport fuel, was cited as an example of good policy struggling against market realities — from the high cost of engine conversions to the scarcity of refueling outlets along major routes.
To overcome these barriers, stakeholders called for a holistic approach that combines incentives, local manufacturing support, and financing schemes designed to make gas adoption affordable and profitable across all levels of society.
The Path Forward
Nigeria’s energy future, the experts agreed, depends on a deliberate shift from policy rhetoric to implementable, bankable solutions that unlock private capital and build consumer trust.
By ensuring gas investments generate sustainable returns and that infrastructure extends to the nation’s last-mile users, the country can transform its vast natural resources into engines of inclusive growth — powering industries, homes, and the aspirations of millions.
