Federal Government Reaffirms Target of 10bn SCF Gas Production by 2030
The Federal Government has restated its commitment to achieving 10 billion standard cubic feet (SCF) of gas production per day by 2030, in line with ongoing reforms and strategic energy agreements.
Finance Minister and Coordinating Minister of the Economy, Wale Edun, made this known on Thursday in Abuja during a meeting with the management of Nigeria LNG Limited (NLNG). The engagement, according to the Ministry of Information, brought together key stakeholders to review production targets, the investment climate, and sectoral reforms.
The government highlighted recent agreements, including the deepwater deal with TotalEnergies, as evidence of progress in creating a competitive and investor-friendly environment. Ongoing tax and trade reforms are also expected to streamline oversight, improve transparency, and boost investor confidence.
NLNG Chief Executive Officer, Dr. Philip Mshelbila, provided updates on company operations, noting improved gas supply, enhanced security on the Trans-Niger pipeline, and capacity utilisation rising above 70%. He also reported progress on the Bodo-Bonny Road and called for its extension to the East-West highway under the tax credit scheme.
The meeting is seen as a pivotal milestone in Nigeria’s energy sector as the country works to unlock its vast gas reserves and drive economic growth under the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration.
