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

President Bola Ahmed 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.

Developed by Nigerian independent AMNI International in partnership with TotalEnergies, the Ima Gas Project 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.

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

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.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, noted that 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.

He added that Nigerian financial institutions arranged 77 per cent of the financing for the project, while around 60 per cent of the project workforce will come from Bonny, Finima, and Andoni in Rivers State.