Tinubu hails $800m Ima Gas FID, says project unlocks 50-year-old resource
President Bola Tinubu has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, describing it as a major step towards unlocking Nigeria’s long-undeveloped gas resources for industrialisation, investment and job creation.
The project, developed by Nigerian independent energy company AMNI International in partnership with TotalEnergies, is expected to produce about 300 million standard cubic feet of gas per day at peak.
The Presidency disclosed this in a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Wednesday.
The Ima gas resource, located offshore in Oil Mining Leases (OMLs) 112 and 117, was discovered in 1973 but remained undeveloped for more than five decades.
The latest FID is expected to pave the way for the development of the resource, which has been identified as a potential source of feedgas for Nigeria LNG Limited.
Tinubu said the decision demonstrated the impact of efforts by his administration to create a more competitive and predictable investment environment in the oil and gas sector.
“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,” he said.
“Our responsibility has been to create the conditions that turn Nigeria’s natural resources into productive investments and economic opportunities.”
