– Nigeria’s energy sector development
– Natural gas investment opportunities
– Strategies for Nigeria’s economic growth
Former Power Minister Prof. Barth Nnaji emphasized that Nigeria’s path to a $1 trillion economy hinges on strategic investments in the energy sector, particularly natural gas. Speaking at the 2025 Bullion Lecture in Lagos, Nnaji highlighted the need to revitalize Power Purchase Agreements (PPAs) to attract investments and boost electricity generation. He noted that while Nigeria currently generates approximately 5,500 megawatts, the goal should be to reach 30,000 megawatts by 2030 and 100,000 megawatts by 2040.
Despite possessing 209.26 trillion cubic feet of natural gas, Nigeria faces challenges in supplying its 24 gas-fired plants, leaving over 80 million citizens without electricity access. Nnaji advocated for prioritizing domestic gas utilization over exports, positioning natural gas as a transitional fuel to drive economic growth and energy security.
