Tinubu Hails $800m Ima Gas Project As Major Win, Says 50-Year-Old Field Finally Set For Production

President Bola Tinubu has said his administration’s reforms in Nigeria’s oil and gas sector are beginning to deliver results following the $800 million Final Investment Decision (FID) on the long-delayed Ima Gas Project.

The President said the project, which was discovered in 1973 but remained undeveloped for more than five decades, would create jobs, increase gas production, support local businesses and boost Nigeria’s export earnings.

In a statement on Wednesday, Tinubu said his administration introduced several Presidential Directives and Executive Orders to make Nigeria more attractive to investors by reducing the cost and time required to develop oil and gas projects while providing greater certainty for investments.

According to him, one of the reforms specifically targeted onshore and shallow-water gas projects that had remained idle for years.

“The decisions we have taken to reposition Nigeria’s oil and gas sector are beginning to bear fruit,” the President said.

He added, “Since assuming office, I have signed a series of Presidential Directives and Executive Orders to make investment in Nigeria more competitive, reduce the cost and time required to develop projects, provide greater certainty to investors and ensure that our natural resources deliver greater value to our people.”

Tinubu said the reforms had now produced tangible results with AMNI International and TotalEnergies taking an $800 million Final Investment Decision to develop the Ima Gas Field.

“One of those reforms introduced specific incentives to unlock onshore and shallow-water gas projects that had remained undeveloped for years. Today, we are seeing the result,” he said.

The President noted that the project would provide employment opportunities for Nigerian engineers, technicians, contractors and businesses, especially in host communities.

“For Nigerians, this means work for our engineers, technicians and contractors. It means opportunities for Nigerian businesses, jobs and economic activity in our host communities, and more export earnings for our country,” he said.

Tinubu disclosed that AMNI International, a Nigerian company, holds the majority interest in the project, while about 60 per cent of the development workforce is expected to come from the host communities.

He added that the Ima Gas Field is projected to produce about 350 million cubic feet of gas per day at peak production and supply roughly one-third of the gas needed for the planned expansion of Nigeria LNG (NLNG).

The President said the development reflects his administration’s commitment to turning Nigeria’s vast natural resources into economic opportunities for citizens.

“This is what our reforms are intended to achieve, to move Nigeria’s resources from potential to production and translate them into jobs, incomes and opportunity for our people. We have more to unlock,” Tinubu stated.

The Final Investment Decision marks a major milestone for Nigeria’s gas industry, as the country seeks to attract fresh investments, expand domestic gas utilisation and strengthen its position as one of Africa’s leading gas producers. The project is also expected to support the Federal Government’s drive to grow exports, improve energy security and stimulate economic development through increased gas production.