Finance and Technology Key to Unlocking Nigeria’s Gas Potential – Industry Leaders
Industry experts have stressed that stronger financing frameworks, strategic infrastructure investment, and the adoption of advanced technology are crucial to unlocking Nigeria’s gas potential and expanding domestic utilisation. The Managing Director of Zamam Offshore Services Limited, Oluwole Asalu, made the call during a panel discussion at Lagos Energy Week, where stakeholders examined how sustainability principles could drive responsible gas development in the country.
Speaking at the session titled “Advancing Domestic Gas Utilisation: An ESG Framework for Emission Reduction,” Asalu highlighted supply reliability as a major challenge facing Nigeria’s gas sector. According to him, the biggest obstacle is not demand for gas but the lack of sufficient infrastructure required to deliver it at scale across the country.
“Demand for gas is not the problem. The real challenge is the infrastructure required to deliver gas at scale. Until we close that gap, reliability will remain a structural issue,” Asalu explained. He noted that gas infrastructure projects are highly capital-intensive and often require support from large financial institutions and investors willing to fund long-term projects with significant social and economic impact.
Asalu also emphasised the growing role of digital technology in improving transparency and operational efficiency across the gas value chain. He explained that the deployment of the right digital systems allows regulators and industry players to gain better oversight, strengthening accountability and boosting investor confidence in the sector.
Financing, however, remains the most decisive factor for accelerating environmentally responsible gas development. Asalu pointed out that investors are increasingly tying access to capital to Environmental, Social and Governance (ESG) standards. Similarly, Frank Umole, Managing Director of Axxela GMI, said Nigeria’s gas industry does not face a demand problem, noting that the country holds more than 210 trillion cubic feet of gas reserves. Instead, he said the main challenge lies in the high cost of financing and the mismatch between long infrastructure timelines and investor expectations.
Beyond funding and infrastructure concerns, Asalu stressed the importance of developing skilled professionals to support the country’s growing energy sector. He said Zamam Offshore Services is investing in partnerships and training initiatives aimed at equipping young engineers with the technical expertise required to strengthen Nigeria’s oil and gas industry while advancing responsible energy development.
source: punch