FG reveals Nigeria accounts for 33% of Africa’s gas reserves

According to the Federal Government, Nigeria now holds 33% of Africa’s total gas reserves.

It also stated that the gas reserves in Nigeria might endure for roughly 94 years while making this disclosure through the Nigerian Upstream Petroleum Regulatory Commission.

This information was presented in Abuja at the 16th Annual International Conference of the Nigerian Association for Energy Economics, which had as its theme “Energy evolution, transition, and reform: Prospects for African economies.”

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He stressed the significance of keeping in mind that oil and gas would continue to ensure Nigeria’s enormous population, which is thought to number around 200 million, of energy security.

Komolafe said, “With a reserve base of 36.97 billion barrels of oil and 208.83 trillion cubic feet of gas which represents 33 per cent of Africa’s total gas reserves of 620TCF, Nigeria can be described as a gas rich nation ranking number one in Africa in reserves with a life index of 94 years.

“This clearly presents Nigeria in a dominant position in the entire Africa gas market. Nigeria has the potential to ensure sustained supply of natural gas across the sub-Saharan region of Africa, if the necessary financing and infrastructure are in place.”