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, describing it as a major milestone in efforts to unlock Nigeria’s gas resources for investment, industrialisation, job creation and economic growth.

The project, developed by Nigerian independent oil and gas company AMNI International in partnership with TotalEnergies, is expected to produce about 300 million standard cubic feet of gas per day at peak.

The Ima gas resource, located offshore in Oil Mining Leases (OMLs) 112 and 117, was discovered in 1973 but remained undeveloped for more than five decades.

We are determined to unlock more of Nigeria’s gas resources to power our industries, expand our exports, create jobs and build lasting prosperity for our people.

Since assuming office, President Tinubu has prioritised reforms to reverse years of underinvestment in Nigeria’s oil and gas industry. Although the Petroleum Industry Act of 2021 laid an important foundation, several undeveloped projects lacked the fiscal and commercial conditions needed to become viable.

In 2024, President Tinubu issued a series of presidential directives to improve the investment climate and position Nigeria as a preferred destination for energy investment in Africa.

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.