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Energy and petrochemical sector investments in Nigeria

Updated 4 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-26 10:13 UTC → 2026-09-30 05:23 UTC · added removed

Nigeria is seeing significant investment in its energy and petrochemical sectors aimed at industrialization and reducing import dependence. Indorama Eleme Petrochemicals Limited (IEPL) announced a $3 billion expansion plan over five years to grow its petrochemical and fertilizer plants. Managing Director Manish Mundra noted that while Nigeria holds Africa’s largest gas reserves, the country remains reliant on imports for specialty chemicals and plastics. He highlighted the need to convert hydrocarbon resources into high-value industrial outputs through policy reforms. In the gas sector, TotalEnergies and AMNI International Petroleum Development Company have reached a Final Investment Decision (FID) for the Ima Gas Project offshore Rivers State. Valued between at approximately $800 million and $1.1 billion, million, the project aims to develop involves developing a gas resource discovered single offshore platform in 1973. Located shallow waters near Bonny Island Island, located within OMLs 112 and 117, the development 117. The field, discovered in 1973, will feature a single platform be connected to the Nigeria LNG (NLNG) facility via a 22-kilometre pipeline. The Nigerian National Petroleum Company Limited (NNPC Ltd) noted that Under the agreement, AMNI will hold a 60% stake, while TotalEnergies will operate with a 40% interest. The investment was facilitated by 2024 Presidential Directives intended to provide fiscal incentives for non-associated gas and streamline contracting. The Ima Gas Project is the fourth major gas project to reach FID under President Bola Ahmed Tinubu’s administration, following the Iseni, Ubeta, and HI projects. Once production begins in 2028, the field is expected to produce between 300 and 350 million standard cubic feet of gas per day, supplying roughly one-third of the feed gas required for the NLNG Train 7 expansion. expansion, which aims to increase capacity from 22 million to 30 million tons per annum.

Versions

  1. 2026-09-30 05:23 UTC Energy and petrochemical sector investments in Nigeria
  2. 2026-09-26 10:13 UTC Energy and petrochemical sector investments in Nigeria
  3. 2026-09-25 11:02 UTC Energy and petrochemical sector investments in Nigeria
  4. 2026-09-24 08:58 UTC Energy and petrochemical sector investments in Nigeria
  5. 2026-09-23 17:09 UTC Energy and petrochemical sector investments in Nigeria

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