{"id":4552,"date":"2026-09-24T16:32:05","date_gmt":"2026-09-24T16:32:05","guid":{"rendered":"https:\/\/consumerconnectng.com\/?p=4552"},"modified":"2026-09-24T18:45:13","modified_gmt":"2026-09-24T18:45:13","slug":"tinubu-800m-ima-gas-investment-will-unlock-nigerias-gas-resources-for-industrialisation-job-creation","status":"publish","type":"post","link":"https:\/\/consumerconnectng.com\/?p=4552","title":{"rendered":"Tinubu: $800m IMA Gas investment will unlock Nigeria\u2019s gas resources for industrialisation, job creation"},"content":{"rendered":"<p>*<strong><em>President Bola Ahmed Tinubu, GCFR, has welcomes the $800 million Final Investment Decision on the Ima Gas Project, stating the deal is expected to unlock Nigeria\u2019s vast gas resources for investment, industrialisation, job creation and economic prosperity for the citizenry <\/em><\/strong><\/p>\n<p>Isola Moses | ConsumerConnect<\/p>\n<p>President Bola Ahmed Tinubu, GCFR, has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project.<\/p>\n<p>The Nigerian Government said the deal marked another major milestone in his administration\u2019s drive to unlock Nigeria\u2019s vast gas resources for investment, industrialisation, job creation and economic prosperity.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"NuXCgRjbFP\"><p><a href=\"https:\/\/consumerconnectng.com\/?p=4515\">InFocus: UN Security Council and Big Techs&#8217; concerns about risks of &#8216;uncontrollable AI&#8217;<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cInFocus: UN Security Council and Big Techs\u2019 concerns about risks of \u2018uncontrollable AI\u2019\u201d \u2014 Consumer Experience Is A Top Priority\" src=\"https:\/\/consumerconnectng.com\/?p=4515&amp;embed=true#?secret=KD3ZKibEev#?secret=NuXCgRjbFP\" data-secret=\"NuXCgRjbFP\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><em>ConsumerConnect<\/em> reports the Nigerian independent AMNI International, in partnership with TotalEnergies, developed the Ima Gas Project.<\/p>\n<p>The government disclosed the gas project is expected to produce about 300 million standard cubic feet of gas per day at peak.<\/p>\n<p>The Ima gas resource, located offshore in OMLs 112 and 117, was discovered way back in 1973, but remained undeveloped for more than five decades.<\/p>\n<p>The Nigerian Government noted though its significant reserves and potential as a source of feedgas for Nigeria LNG Limited, the resource had remained underground and unable to contribute meaningfully to Nigeria\u2019s economy.<\/p>\n<p>The FID, announced on September 23, has changed this, said President Tinubu.<\/p>\n<p>The Ima gas project marks the fourth major gas project to reach Final Investment Decision since President Tinubu assumed office, following the Iseni, Ubeta, and HI FIDs.<\/p>\n<p>It is noted that the FIDs reflect the growing momentum of investment in Nigeria\u2019s gas sector and the administration\u2019s drive to convert the West African country\u2019s vast gas resources into productive projects that create jobs, generate revenues, and expand economic opportunity for Nigerians<\/p>\n<p>Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, Wednesday, September 23, 2026, stated President Tinubu also said: \u201cFor more than fifty years, the gas beneath Ima remained a resource with enormous potential.<\/p>\n<p>&#8220;But potential alone does not create jobs, finance businesses or improve the lives of our people.<\/p>\n<p>&#8220;Our responsibility has been to create the conditions that turn Nigeria\u2019s natural resources into productive investments and economic opportunities.\u201d<\/p>\n<p>The President noted: \u201cThe Final Investment Decision on Ima demonstrates what is possible when we provide investors with a competitive, predictable and enabling environment.<\/p>\n<p>&#8220;We are determined to unlock more of Nigeria\u2019s gas resources to power our industries, expand our exports, create jobs and build lasting prosperity for our people.\u201d<\/p>\n<p>The statement affirmed that since assuming office, President Tinubu has prioritised reforms to reverse years of underinvestment in Nigeria\u2019s oil and gas industry.<\/p>\n<p>It is equally noted although the Petroleum Industry Act of 2021 laid an important foundation, several undeveloped projects lacked the fiscal and commercial conditions needed to become viable.<\/p>\n<p>Onanuga recalled that in 2024, President Tinubu issued a series of Presidential Directives developed by the team, led by the Special Adviser to the President on Energy. These directives sought to improve fiscal competitiveness, shorten contracting timelines and reduce costs, he said.<\/p>\n<p>Ms. Olu Arowolo-Verheijen, Special Adviser to the President on Energy, said: \u201cThe story of Ima is ultimately the story of what our reforms are designed to achieve. Nigeria has never lacked resources.<\/p>\n<p>&#8220;The challenge has been creating the commercial and investment conditions required to move those resources from beneath the ground into projects that employ Nigerians, create opportunities for Nigerian businesses, generate revenues and support economic growth.\u201d<\/p>\n<p>Arowolo-Verheijen stated: \u201cA gas discovery made in 1973 can only contribute to prosperity when somebody invests the capital to develop it, banks finance it, contractors build it, Nigerians work on it, and the gas is ultimately, put to productive use.<\/p>\n<p>&#8220;That is the transition we are seeing today.\u201d<\/p>\n<p>The government said the project also demonstrated the growing depth of Nigerian participation across the energy value chain.<\/p>\n<p>AMNI International, a Nigerian-owned exploration and production company, holds a majority interest in the asset.<\/p>\n<p>It is noted this development has illustrated the increasing capacity of indigenous companies to participate in, and lead increasingly significant developments in Nigeria\u2019s upstream sector.<\/p>\n<p>Nigerian financial institutions have arranged 77 percent of the project\u2019s financing, with around 60 percent of the project workforce expected to come from host communities, including Bonny, Finima and Andoni, in Rivers State.<\/p>\n<p>For decades, said the government, Nigeria had recorded one of Africa\u2019s largest gas resource bases.<\/p>\n<p>Yet, significant volumes have remained undeveloped.<\/p>\n<p>The Tinubu administration\u2019s gas strategy, therefore, focuses not simply on producing more gas, but on putting that gas to work: supporting LNG exports and foreign exchange earnings, providing feedstock for industry, enabling fertiliser and petrochemical production, supporting a more reliable power supply, and creating new opportunities for Nigerian businesses and workers.<\/p>\n<p>Tinubu said: \u201cNatural resources have value only when they are converted into opportunities for our people.<\/p>\n<p>\u201cOur goal is to ensure that Nigeria\u2019s gas powers Nigerian prosperity.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>*President Bola Ahmed Tinubu, GCFR, has welcomes the $800 million Final Investment Decision on the Ima Gas Project, stating the deal is expected to unlock&hellip;<\/p>\n","protected":false},"author":2,"featured_media":341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_FSMCFIC_featured_image_caption":"President Bola Ahmed Tinubu, 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href=\"https:\/\/consumerconnectng.com\/?cat=20\" rel=\"category\">Highlights<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=4\" rel=\"category\">Markets<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=8\" rel=\"category\">Regulators<\/a>","tag_info":"Regulators","comment_count":"0","_links":{"self":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/4552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4552"}],"version-history":[{"count":2,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/4552\/revisions"}],"predecessor-version":[{"id":4600,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/4552\/revisions\/4600"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/media\/341"}],"wp:attachment":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}