Nigeria, despite possessing abundant natural gas reserves, faces a paradoxical situation of low domestic utilization. This underutilization represents a significant lost opportunity for economic growth and development. Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has emphasized the urgent need to address this challenge and has called upon Seplat Energy Producing Nigeria Unlimited (SEPNU), a key player in the Nigerian oil and gas sector, to accelerate its natural gas delivery efforts for both domestic consumption and export. The minister’s appeal underscores the government’s commitment to leveraging Nigeria’s gas resources to drive economic progress.
Minister Ekpo’s call to action came during a meeting with SEPNU’s senior management at the NNPC Towers in Abuja. The meeting centered on SEPNU’s progress since assuming operatorship of assets divested by ExxonMobil in December 2024, with a particular focus on the gas component of the deal. The minister commended SEPNU’s successful takeover and expressed confidence in the company’s ability to expedite Gas Sales Agreements (GSAs). These agreements are viewed as critical catalysts for the gas industry, facilitating the delivery of much-needed natural gas to the nation through prioritized projects. Ekpo stressed the importance of seamless collaboration between SEPNU and its host communities to ensure shared value creation for all stakeholders, solidifying SEPNU’s position as a leading indigenous energy company.
The minister further underscored the significance of adhering to project timelines, emphasizing that timely execution is crucial for realizing the desired economic benefits for the nation. He linked SEPNU’s success to Nigeria’s broader goal of harnessing its vast gas reserves for economic growth and development. This connection highlights the strategic importance of SEPNU’s operations within the context of Nigeria’s national energy strategy. The minister’s emphasis on timelines reflects the urgency of maximizing the economic potential of Nigeria’s gas resources.
Ekpo reiterated the government’s commitment to promoting indigenous participation in the oil and gas sector, recognizing the crucial role of domestic players in driving sustainable energy development. He also emphasized the government’s dedication to fostering a conducive investment environment. This commitment signals a supportive stance towards private sector involvement in the energy sector and underscores the government’s recognition of the importance of attracting investment for growth. The minister’s willingness to collaborate with SEPNU to overcome legislative and regulatory hurdles demonstrates a proactive approach to facilitating the company’s gas delivery objectives.
SEPNU’s Managing Director, Dotun Isiaka, briefed the minister on the company’s engagement with potential off-takers for natural gas from its acquired assets. This indicates proactive steps by SEPNU to secure market access for its gas production. Isiaka also sought the minister’s support in addressing legislative and regulatory challenges that could impede the company’s operations and its ability to meet its targets for major gas projects. This request for government assistance highlights the importance of a collaborative approach between the public and private sectors to overcome obstacles and unlock the full potential of Nigeria’s gas resources.
The meeting between Minister Ekpo and SEPNU’s leadership underscores the shared commitment to maximizing Nigeria’s gas potential. The minister’s emphasis on accelerated gas delivery, community engagement, and adherence to project timelines reflects a sense of urgency in leveraging these resources for national development. SEPNU’s proactive steps in engaging potential off-takers and seeking government support in navigating regulatory hurdles demonstrate its commitment to contributing to this national objective. The collaborative approach between the government and SEPNU exemplifies the partnership needed to overcome challenges and unlock the significant economic benefits that Nigeria’s abundant gas reserves offer. This partnership holds the promise of transforming Nigeria’s gas potential into a driver of economic growth, job creation, and improved living standards for its citizens.
