Business is booming.

Nigeria’s gas riches can’t fuel growth without local firms, ministers say

 

By Awyetu Asabe Hope

Abundant gas reserves alone cannot spur Nigeria’s economic growth without deliberate policies to deepen local participation, skills and ownership in the sector, Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), has said.

He made the remark on Monday at the opening of the 9th Nigerian International Energy Summit (NIES 2026) themed: “Energy for Peace and Prosperity: Securing Our Shared Future.

Ekpo described the gas sector as Nigeria’s most immediate and scalable pathway to industrialisation and economic resilience.

Speaking at a session titled “Local Content Beyond Compliance: Building African Industrial Powerhouses,” he emphasized that the sector’s development depends on shifting from compliance-driven local content to performance-driven engagement, where local firms are productive, innovative and globally competitive.

Ekpo highlighted the need for investments in engineering, project execution, gas processing, pipeline construction, fabrication, LNG services, operations and maintenance, as well as downstream industries such as fertiliser, petrochemicals, methanol, and compressed natural gas for transportation.

Also speaking, Patience Oyekunle, Permanent Secretary of the Ministry of Petroleum Resources, said energy should be viewed as a catalyst for stability, industrialisation and inclusive growth, rather than merely a commodity for export.

She urged stakeholders to deepen local expertise, strengthen supply chains and expand domestic manufacturing capacity.

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