Africa needs stronger financing frameworks for gas development — NNPC

The Nigerian National Petroleum Company Limited (NNPC Ltd) has called for stronger African-led financing frameworks and commercially viable payment systems to unlock the continent’s vast gas resources and drive energy security and industrial growth.

The call was made by the Executive Vice President, Gas, Power and New Energy at NNPC Ltd, Olalekan Ogunleye, during the Africa CEO Forum holding in Kigali, Rwanda.

Speaking at the African Oil and Gas Coalition’s Strategic Roundtable themed, “Gas without Cash: Breaking the African Monetisation Deadlock,” Ogunleye stressed the need for practical and sustainable financing models tailored to African realities.

He noted that reliable payment performance remains critical to sustainable gas commercialisation across the continent.

According to him, Nigeria is adopting a comprehensive value-chain approach to the oil and gas sector as part of efforts to position the country as a leading energy hub in Africa.

“Nigeria is taking a comprehensive value-chain approach to the oil and gas business. For Africa to fully unlock its gas potential, we must move from conversations about challenges to building practical, bankable solutions that work within African realities,” Ogunleye said.

The Africa CEO Forum, themed “Scale or Fail: Why Africa Must Embrace Shared Ownership,” brings together business leaders, policymakers and investors from across Africa and global markets to discuss regional integration, investment mobilisation and sustainable economic growth.

The forum also serves as a platform for strengthening partnerships, exploring investment opportunities and aligning policies aimed at accelerating development across the continent.