Tinubu hails $800m Ima Gas FID as Nigeria unlocks 50-year-old gas resource

President Bola Tinubu has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, marking another major milestone in his administration’s drive to unlock Nigeria’s vast gas resources for investment, industrialisation, job creation and economic prosperity.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, stated this in a statement issued on Wednesday. The statement said the project, developed by Nigerian independent exploration and production company, AMNI International, in partnership with TotalEnergies, is expected to produce about 300 million standard cubic feet of gas per day at peak.

The story of Ima is ultimately the story of what our reforms are designed to achieve. Nigeria has never lacked resources.

The Special Adviser to the President on Energy, Ms Olu Verheijen, said the Ima project reflected the objectives of the administration’s reforms. She noted that the directives were aimed at improving fiscal competitiveness, shortening contracting timelines and reducing project costs.

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.