A Review of the Nigerian Energy Industry

Nigeria produces about 25% of gas reserves – Shell Boss

*Osagie Okunbor, Managing Director, SPDC, and Country Chair, Shell Companies in Nigeria.

OpeOluwani Akintayo

29 May 2018, Sweetcrude, Lagos – As the Federal Government seeks to harness the nation’s gas resources for increased supply for domestic usage and industrial power, and to achieve sustainable economic growth, the Country Chairman, Shell Companies in Nigeria, Mr. Osagie Okunbor, has disclosed that the country was tapping only about 25 percent of its gas reserves.

He revealed this in the company’s 2018 briefing notes obtained by SweetcrudeReports. 

According to the Oil Producers Trade Section, OPTS, of Lagos Chamber of Commerce and Industry, LCCI, Nigeria is endowed with over 181 trillion cubic feet of gas reserves, with much more in undiscovered gas reserves.

There is currently a lot of efforts at dedicating a large chunk of the gas produced in the country to power generation.

But, Okunbor said although Nigeria currently has around seven gigawatts, GW, of installed electricity capacity, less than five GW is actually in operation.

Osagie spoke of Federal Government’s aspiration to increase electricity generation from the current five GW to 40 GW, which, he said, represents “a huge development” opportunity for Nigeria’s domestic gas industry.

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