Tinubu hails $800m investment decision on 50-year-old Ima gas project

President Bola Tinubu has welcomed the $800m Final Investment Decision on the Ima Gas Project, describing it as a major milestone in efforts to unlock Nigeria’s gas resources for industrialisation, job creation and economic growth.

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 Ima field was discovered in 1973 but remained undeveloped for more than 50 years. The FID now provides the financial and commercial basis for its development, with first gas expected in 2028.

TotalEnergies, which is the operator with a 40 per cent interest, said AMNI holds the remaining 60 per cent. The field will be developed with a single offshore platform connected through a 22-kilometre pipeline to Nigeria LNG.