Tinubu Announces Fresh Gas Sector Milestone as $800m Ima Gas Project FID Takes Off After 50 Years
By Naomi Onome
President Bola Ahmed Tinubu has welcomed the Final Investment Decision (FID) on the $800 million Ima Gas Project, describing it as a major milestone in efforts to unlock Nigeria’s vast gas resources for investment, industrialization, job creation and economic growth.
The Ima Gas Project, developed by Nigerian independent exploration and production company, AMNI International, in partnership with TotalEnergies, is expected to produce approximately 300 million standard cubic feet of gas per day at peak production.
Located offshore in Oil Mining Leases (OMLs) 112 and 117, the Ima gas resource was discovered in 1973 but remained undeveloped for more than five decades.
Despite its substantial reserves and potential to serve as a feed gas source for Nigeria LNG Limited, the resource remained untapped until the FID announced on September 23, 2026.
The development represents the fourth major gas project to reach FID since President Tinubu assumed office, following the Iseni, Ubeta and HI projects.
According to the Presidency, the FIDs demonstrate increasing investment momentum in Nigeria’s gas sector and the administration’s efforts to convert the country’s gas resources into productive projects capable of creating jobs, generating revenue and expanding economic opportunities.
President Tinubu said the Ima development demonstrated the importance of creating an environment that could transform Nigeria’s natural resources into productive investments.
“For more than fifty years, the gas beneath Ima remained a resource with enormous potential, but potential alone does not create jobs, finance businesses or improve the lives of our people,” the President said.
“Our responsibility has been to create the conditions that turn Nigeria’s natural resources into productive investments and economic opportunities.”
He added that the FID showed what could be achieved through a competitive, predictable and enabling investment environment.
“We are determined to unlock more of Nigeria’s gas resources to power our industries, expand our exports, create jobs and build lasting prosperity for our people,” Tinubu said.
The administration said it has prioritised reforms aimed at reversing years of underinvestment in the oil and gas sector.
While the Petroleum Industry Act of 2021 provided a framework for industry reforms, several projects remained undeveloped due to fiscal and commercial challenges.
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In 2024, President Tinubu issued a series of Presidential Directives developed by the team led by his Special Adviser on Energy, Olu Verheijen, to improve fiscal competitiveness, reduce costs and shorten contracting timelines.
Verheijen described the Ima project as an example of the objective of the reforms.
“The story of Ima is ultimately the story of what our reforms are designed to achieve. Nigeria has never lacked resources. The challenge has been creating the commercial and investment conditions required to move those resources from beneath the ground into projects that employ Nigerians, create opportunities for Nigerian businesses, generate revenues and support economic growth,” she said.
She added that the development of the resource demonstrated the process required to transform a gas discovery into an economic asset.
“A gas discovery made in 1973 can only contribute to prosperity when somebody invests the capital to develop it, banks finance it, contractors build it, Nigerians work on it, and the gas is ultimately put to productive use. That is the transition we are seeing today,” Verheijen said.
The project is also expected to demonstrate increased Nigerian participation in the country’s energy value chain.
AMNI International, a Nigerian-owned exploration and production company, holds a majority interest in the asset, reflecting the growing participation of indigenous companies in major upstream developments.
Nigerian financial institutions have reportedly arranged 77 per cent of the project’s financing, while about 60 per cent of the project workforce is expected to be drawn from host communities, including Bonny, Finima and Andoni in Rivers State.
The Presidency said Nigeria, despite possessing one of Africa’s largest gas resource bases, has historically left significant volumes of its gas undeveloped.
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The administration’s gas strategy is therefore focused not only on increasing production but also on deploying gas to support LNG exports and foreign exchange earnings, industrial feedstock, fertiliser and petrochemical production, electricity generation and new opportunities for Nigerian businesses and workers.
“Natural resources have value only when they are converted into opportunities for our people,” Tinubu said.
“Our goal is to ensure that Nigeria’s gas powers Nigerian prosperity.”
The statement was signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy, on September 23, 2026.
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