Nigeria’s recoverable gas reserves has the potential to generate a Gross Value Add (GVA) of $18.3 billion yearly for the domestic economy if properly harnessed with good policies and advanced technology.
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The President, Nigeria Liquefied Petroleum Gas Association (NLPGA), Felix Ekundayo, who disclosed this in Lagos, said the reserve could also buoy the nation’s exports by another $7 billion and support 6.5 million full-time jobs yearly, if adequately explored.

Speaking on the upcoming conference of the association, Ekundayo said the NLPGA is engaging key local and foreign stakeholders on new investment opportunities across the gas value chain, as government’s new fiscal policy whets investors’ appetite, especially the country’s midstream sub-sector.

He said that the association is providing the opportunity through its 13th international conference and exhibition which will hold with the theme, ‘LPG: Bridging The Energy Transition’ where key players in the gas sector will build knowledge of unique financing, insurance cover and other business enabling requirements of the sector.

Ekundayo, represented by the Deputy President of the association, Ladi Falola, stated that current estimates showed that economic activities stimulated by the domestic utilisation of Nigeria’s recoverable gas reserves has the potential to generate a Gross Value Add (GVA) of $18.3 billion yearly to the domestic economy and $10.5 billion through direct economic value addition to LPG.

He said that through its sustained advocacy and intervention in collaboration with the Nigeria Liquefied Natural Gas (NLNG), the supply of LPG grew from 60,000 metric tons (MT) in 2007 to over 1.3 million MT in 2021, representing a growth of over 1,000 per cent.

He added that the unification of the naira due to the Federal Government’s new foreign exchange policy would in the long run help the gas industry with increased Foreign Direct Investment (FDI).
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