The Federal Government of Nigeria has successfully settled more than N100 billion in longstanding gas debts since the beginning of 2026, a move aimed at bolstering the gas-to-power value chain. This announcement was made by the Special Adviser to the President on Oil and Gas, Mrs. Olu Verheijen, during her keynote address at the Africa Interviews Sustainability Forum 2026 held in Lagos.

Verheijen revealed that this financial settlement is part of the administration's Presidential Power Sector Financial Reforms Programme, which seeks to revitalize the power sector and encourage investments in gas infrastructure. She emphasized that the government has implemented several measures since 2023 to promote the use of liquefied petroleum gas (LPG) for cooking, including import duty waivers and zero-rated value-added tax for LPG and gas cylinders. This initiative aims to reduce reliance on firewood and promote cleaner cooking alternatives.

“A gas-rich nation cannot be comfortable while families remain stuck in the age of firewood,” Verheijen stated, highlighting the urgency of transitioning to cleaner energy sources.

According to Verheijen, the reforms initiated under President Bola Tinubu's administration are crucial for removing barriers to investment and unlocking Nigeria's vast gas resources for industrialization, electricity generation, and economic growth. She noted that Nigeria has recorded four final investment decisions in gas projects within a span of less than two years, with average daily gas production increasing from approximately seven billion cubic feet to eight billion cubic feet.

Verheijen pointed out that despite Nigeria's substantial proven gas reserves of over 200 trillion cubic feet, the mere presence of resources does not guarantee prosperity. She remarked, “What turns resources into prosperity is investment, consistent investment that responds to predictable incentives and a stable environment.” This sentiment underscores the administration's commitment to addressing the factors that have historically hindered investment in the sector.

The presidential adviser reiterated that gas is central to the government's reform agenda due to its critical role in electricity generation, manufacturing, transportation, fertilizer production, and cleaner cooking. She emphasized that Nigeria's gas wealth is even more significant than its oil wealth, making it a vital resource for the country's industrialization efforts.

In her remarks on Africa's energy transition, Verheijen stressed the need for the continent to focus on energy security, industrial development, and job creation while pursuing environmental sustainability. She argued that African nations should have the autonomy to determine the pace of their energy transitions according to their unique development priorities and economic circumstances.

“The energy transition must also mean agency. Africa is right to decide for itself how fast it decarbonizes, rather than having those choices made for us by others,” she added, emphasizing the importance of self-determination in energy policy. Furthermore, Verheijen highlighted the necessity of measuring and mitigating methane emissions and ensuring that local communities benefit significantly from gas development initiatives.