Key points
- Nigeria secured over $4.5 billion in energy investment commitments during the 25th NOG Energy Week.
- Gas and LNG projects accounted for 39% of the signed deals, followed by upstream investments at 31%.
- NNPC Ltd., Seplat Energy Joint Venture and UTM FLNG signed a 15-year Gas Sale and Purchase Agreement.
- The agreement will supply 200 million standard cubic feet of gas per day to Nigeria’s first floating LNG project.
- ExxonMobil affiliate Esso Exploration and Production Nigeria and its partners committed $1 billion to the Usan Infill Project.
- The deepwater project is expected to add 40,000 barrels of oil per day to Nigeria’s production.
- NNPC also signed agreements with Ajaokuta Steel Company Limited, Chevron Nigeria Limited, AGPC and NNPC Exploration and Production Limited.
Main Story
Nigeria has secured more than $4.5 billion in fresh energy investment commitments following the conclusion of the 25th edition of NOG Energy Week, reinforcing the country’s position as a leading destination for energy investments in Africa.
Organisers of the conference disclosed that the event, themed “Forging Africa’s Strategic Energy Growth Through Global Collaboration,” attracted government officials, regulators, energy companies, investors, financiers and technology providers, resulting in significant commercial agreements across the energy value chain.
According to the organisers, gas and liquefied natural gas (LNG) projects accounted for the largest share of the investment commitments at 39 per cent, followed by upstream oil and gas projects at 31 per cent. Midstream investments represented 16 per cent, while engineering and technology projects accounted for 10 per cent. Downstream projects made up the remaining four per cent.
The investment profile highlights the growing emphasis on natural gas as a key pillar of Nigeria’s energy transition strategy and broader economic development agenda.
Among the major agreements signed was a 15-year Gas Sale and Purchase Agreement between the NNPC Limited and Seplat Energy Joint Venture and UTM FLNG Limited to supply 200 million standard cubic feet of gas per day.
The agreement is expected to support Nigeria’s first floating liquefied natural gas (FLNG) project and position it for a Final Investment Decision (FID) in the fourth quarter of 2026.
In another major investment announcement, Esso Exploration and Production Nigeria, an affiliate of ExxonMobil, alongside Chevron, TotalEnergies and Nexen, committed $1 billion to the Usan Infill Project, a deepwater oil development expected to increase Nigeria’s crude oil production by 40,000 barrels per day.
NNPC Limited also signed a Memorandum of Understanding (MoU) and a Gas Sale and Aggregation Agreement with Ajaokuta Steel Company Limited (ASCL), as well as a Network Entry Agreement involving Chevron Nigeria Limited, AGPC and NNPC Exploration and Production Limited (NEPL).
Speaking on the significance of the agreements, the Group Chief Executive Officer of NNPC Limited, Bashir Bayo Ojulari, said the partnerships represented more than commercial transactions.
He noted that the agreements would help drive Nigeria’s industrialisation while strengthening collaboration, investment and innovation across Africa’s energy sector.
The Issues
Mobilising long-term investment remains critical to expanding Nigeria’s energy infrastructure and production capacity.
Increased investment in gas development supports Nigeria’s energy transition and efforts to improve domestic energy security.
Delivering the announced projects will depend on timely implementation, regulatory certainty and financing.
Large-scale energy investments are expected to boost employment, industrialisation and government revenue.
Sustaining investor confidence will require continued reforms and policy stability across the oil and gas sector.
What’s Being Said
NNPC Group Chief Executive Officer Bashir Bayo Ojulari said the agreements signed during NOG Energy Week represent more than business transactions, describing them as catalysts for Nigeria’s industrialisation.
According to him, collaboration, investment and innovation remain essential to unlocking Africa’s energy potential and expanding sustainable access to energy across the continent.
The organisers of NOG Energy Week said the conference successfully translated industry dialogue into more than $4.5 billion in investment commitments spanning gas, upstream, midstream, downstream and energy technology projects.
What’s Next
The signed agreements are expected to progress toward implementation, with particular attention on the Final Investment Decision (FID) for Nigeria’s first floating LNG project in the fourth quarter of 2026. Stakeholders will also monitor the execution of the Usan Infill Project and other gas infrastructure initiatives aimed at expanding production, strengthening industrial development and attracting additional investment into Nigeria’s energy sector.
Bottom Line
The more than $4.5 billion in investment commitments secured during NOG Energy Week reflects growing investor confidence in Nigeria’s energy sector. With gas projects leading the investment pipeline, successful execution of the agreements will be key to advancing the country’s industrialisation, energy transition and long-term economic growth.
