President Bola Ahmed Tinubu has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, describing it as another milestone in his administration’s efforts to unlock Nigeria’s gas resources for investment, industrialisation, job creation and economic growth.
Developed by Nigerian independent energy company 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 production.
The gas resource, located offshore in Oil Mining Leases (OMLs) 112 and 117, was discovered in 1973 but remained undeveloped for more than five decades.
Despite its significant reserves and potential as a feed gas source for Nigeria LNG Limited, the resource remained undeveloped until the Final Investment Decision was announced on Sept. 23, 2026.
The development marks the fourth major gas project to reach FID since Tinubu assumed office, following the Iseni, Ubeta and HI projects.
The milestones reflect growing investment in Nigeria’s gas sector and the administration’s efforts to attract capital and accelerate the development of the country’s natural resources.
Tinubu said the gas beneath Ima had remained a resource with enormous potential for more than 50 years, stressing that potential alone could not create jobs or improve living standards.
“Our responsibility has been to create the conditions that turn Nigeria’s natural resources into productive investments and economic opportunities. The Final Investment Decision on Ima demonstrates what is possible when we provide investors with a competitive, predictable and enabling environment,” the President said.
Since assuming office, the administration has introduced reforms aimed at addressing years of underinvestment in the oil and gas sector.
Building on the Petroleum Industry Act of 2021, Tinubu issued presidential directives in 2024 aimed at improving fiscal competitiveness, shortening contracting timelines and reducing operational costs.
The Special Adviser to the President on Energy, Ms Olu Verheijen, said the Ima project demonstrated the importance of converting discoveries into productive assets through investment and financing.
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She noted that the 1973 discovery could only contribute to economic development when capital was invested, financial institutions supported the project and the gas was put to productive use.
The project also highlights local participation in Nigeria’s energy sector, with AMNI International, a Nigerian-owned exploration and production company, holding a majority interest in the asset.
Nigerian financial institutions have arranged 77 per cent of the project funding, while about 60 per cent of the project workforce is expected to be sourced from host communities, including Bonny, Finima and Andoni in Rivers State.
The administration’s broader gas strategy focuses on expanding liquefied natural gas exports, supplying feedstock to local industries, supporting fertiliser and petrochemical production, and improving power supply.
Tinubu said Nigeria’s natural resources would only create lasting value when converted into tangible economic opportunities, reaffirming his administration’s commitment to using the country’s gas resources to drive sustainable national development.
