Economy
NUPRC Unveils Roadmap to Unlock 55 TCF of Uncommitted Gas Reserves
By Adedapo Adesanya
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled a comprehensive regulatory roadmap designed to unlock over 55 trillion cubic feet (TCF) of uncommitted gas reserves and attract billions of dollars in new investments into the nation’s gas value chain.
This is part of roadmap, which aligns with President Bola Tinubu’s economic diversification and energy transition priorities, announced at the 3rd Gas Investment Forum held in Lagos recently.
The road outlines key policy and regulatory measures targeted at driving gas development, monetisation, and infrastructure expansion across the country.
Speaking at the forum, the commission’s chief executive, Mr Gbenga Komolafe, represented by the Executive Commissioner for Development and Production, Mr Enorense Amadasu, said the initiative is pivotal to securing Nigeria’s long-term energy security and global competitiveness.
“Nigeria’s proven gas reserves currently stand at 210.54 trillion cubic feet, comprising 109.51 TCF of Non-Associated Gas and 101.03 TCF of Associated Gas,” Mr Amadasu stated.
“Of this, about 55 TCF, representing 26 percent, remains uncommitted to existing or planned monetisation projects. This presents a massive investment opportunity for both domestic and international investors.”
According to him, since the enactment of the Petroleum Industry Act in 2021, the Commission has approved over 25 Non-Associated Gas, NAG, Field Development Plans, unlocking nearly 9,790 billion standard cubic feet, BSCF, of reserves and attracting over $4.9 billion in capital expenditure, CAPEX.
He further disclosed that the country’s annual average daily gas production in 2024 stood at 6.99 billion standard cubic feet per day, BSCF/D, with a Reserves Replacement Ratio of 1.56 and a Reserves Life Index of 92.7 years, an indication, he said, of the sector’s long-term sustainability.
“The national gas reserves have grown steadily from 208.83 TCF in 2023 to 210.54 TCF in 2025, while production rose from 6.91 BSCF/D to 7.61 BSCF/D,” he added.
“These figures demonstrate resilience and steady progress across the gas value chain.”
Providing further insight into gas utilisation patterns, Mr Amadasu explained that the domestic market currently accounts for about 28 percent of total gas consumption, while exports via LNG and the West African Gas Pipeline, WAGP, take up 35 per cent. Field use, including gas lift and reinjection, represents about 29 per cent.
He noted that NUPRC’s regulatory milestones have been instrumental in shaping the nation’s gas landscape, citing policies such as the Associated Gas Re-injection Act (1979), National Gas Policy (2008), Flare Gas (Prevention of Waste and Pollution) Regulations (2018), and the Decade of Gas Initiative.
“The PIA 2021, alongside recent instruments like the Domestic Gas Delivery Obligation Regulations (2022), Gas Flaring, Venting and Methane Emissions Regulations (2023), and the Oil and Gas Companies (Tax Incentives) Order (2024), underscores our commitment to a transparent, pro-investment framework,” he said.
Mr Amadasu further revealed that the Commission is actively facilitating regulatory approvals and negotiations for gas supply to major national projects such as the NLNG Train 7, the Ajaokuta–Kaduna–Kano Pipeline, and the Brass Fertilizer and Petrochemical Project.
He also disclosed that the Commission is currently monitoring 19 active gas development projects, 10 production facilities and 9 pipeline projects, with a combined capacity of 3.55 BSCF/D.
About 88 per cent of these projects are in the engineering phase, while 12 percent have moved to construction or fabrication.
“Eighty-six per cent of the new gas projects are designed for the export market, particularly to feed the Nigerian LNG, while about 23 percent, equivalent to 142 million standard cubic feet per day, MMSCFD,, will serve the domestic market,” he noted.
By Adedapo Adesanya
Three bellwether stocks lifted the NASD Over-the-Counter (OTC) Securities Exchange by 0.62 per cent on Friday, December 12 with the NASD Unlisted Security Index (NSI) jumping by 22.20 points to 3,600.43 points from 3,578.23 points.
In the same vein, the market capitalisation of the trading platform increased by N13.28 billion to close at N2.154 trillion from the previous day’s N2.140 trillion.
During the session, Central Securities Clearing System (CSCS) Plc went up by N2.53 to close at N39.71 per share compared with the previous day’s N37.18 per share, Geo-Fluids Plc added 35 Kobo to its price to finish at N5.00 per unit versus Thursday’s closing price of N4.65 per unit, and FrieslandCampina Wamco Nigeria Plc appreciated by 23 Kobo appreciation to sell at N60.23 per share versus N60.00 per share.
It was observed that yesterday, the price of Golden Capital Plc went down by N1.05 to N9.45 per unit from N10.50 per unit, and UBN Propertiy Plc declined by 21 Kobo to N2.01 per share from the N2.22 per share it was traded a day earlier.
There was a significant improvement in the level of activity for the day, as the volume of transactions increased by 6.2 per cent to 37.4 million units from the previous day’s 35.2 million units, the value of trades went up by 265.1 per cent to N4.9 billion from N1.4 billion, and the number of deals soared by 13.80 per cent to 33 deals from 29 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc ended the last trading day of this week as the most active stock by value on a year-to-date basis with 5.8 billion units valued at N16.4 billion, the second spot was taken by Okitipupa Plc with 178.9 million units traded for N9.5 billion, and third space was occupied by a new comer in MRS Oil Plc with 36.1 million units worth N4.9 billion.
InfraCredit Plc also finished the session as the most active stock by volume on a year-to-date basis with 5.8 billion units transacted for N16.4 billion, followed by Industrial and General Insurance (IGI) Plc with 1.2 billion units valued at N420.3 million, and Impresit Bakolori Plc with 537.0 million units sold for N524.9 million.
By Dipo Olowookere
The bullish run on the Nigerian Exchange (NGX) Limited continued on Friday with a further 1.00 per cent growth buoyed by gains recorded by Guinness Nigeria, Champion Breweries, and others.
Data showed that the consumer goods space expanded by 1.53 per cent during the last trading session of the week, as the insurance counter grew by 0.51 per cent, and the industrial goods sector marginally gained 0.01 per cent.
However, the banking index depreciated by 0.54 per cent due to a pocket of profit-taking, and the energy industry shrank by 0.09 per cent, while the commodity sector closed flat.
Guinness Nigeria gained 10.00 per cent to trade at N217.80, Morison Industries rose by 9.84 per cent to N4.69, Champion Breweries jumped by 9.69 per cent to N14.15, Austin Laz grew by 9.66 per cent to N2.27, and C&I Leasing appreciated by 9.62 per cent to N5.70.
Conversely, eTranzact lost 10.00 per cent to finish at N12.60, Chellarams slumped by 9.00 per cent to N13.20, Eunisell depleted by 9.89 per cent to N75.15, Africa Prudential moderated by 9.77 per cent to N12.00, and DAAR Communications decreased by 9.18 per cent to 89 Kobo.
The busiest stock on Friday was Access Holdings with 107.6 million units sold for N2.2 billion, Consolidated Hallmark traded 59.9 million units worth N245.8 million, Zenith Bank transacted 48.2 million units valued at N3.1 billion, Transcorp Power transacted 42.8 million units for N13.1 billion, and Champion Breweries exchanged 36.4 million units valued at N510.2 million.
At the close of business, a total of 602.8 million units worth N30.7 billion exchanged hands in 20,550 deals yesterday, in contrast to the 529.7 million units valued at N12.3 billion traded in 18,159 deals on Thursday, representing a surge in the trading volume, value, and number of deals by 13.80 per cent, 149.59 per cent, and 13.17 per cent apiece.
Business Post reports that the All-Share Index (ASI) soared during the session by 1,485.89 points to 149,436.48 points from 147,950.59 points and the market capitalisation moved up by N945 billion to N95.264 trillion from N94.319 trillion.
By Adedapo Adesanya
An intervention of the Central Bank of Nigeria (CBN) in the foreign exchange (FX) market eased the pressure on the Naira on Friday.
The apex bank sold forex to banks and other authorised dealers in the official window to defend the domestic currency, helping to calm the FX demand pressure, with the Nigerian currency appreciating against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) by 0.11 per cent or N1.57 to sell at N1,454.50/$1 compared with Thursday’s closing price of N1,456.07/$1.
Also, the domestic currency improved its value against the Pound Sterling in the official market yesterday by N3.95 to close at N1,946.15/£1 versus the previous day’s N1,950.11/£1 but lost 10 Kobo on the Euro to quote at N1,706.46/€1 compared with the N1,706.36/€1 it was exchanged a day earlier.
At the black market segment, the Nigerian Naira maintained stability against the Dollar during the session at N1,470/$1 and also traded flat at N1,463/$1 at the GTBank forex counter.
Despite the sigh of relief, demand pressures outweighed the robust supply from the CBN and inflow from offshore players looking to participate at the OMO bills auction.
Gross FX reserves increased for the twenty fifth consecutive week, growing by a strong $396.84 million week-on-week to $45.44 billion.
As for the cryptocurrency market, it was down on Friday as pressure remained after Federal Reserve chair Jerome Powell’s speech on Wednesday, which hinted at a possible rate cut pause in January. As a result, markets now expect only two rate cuts in 2026 instead of three.
However, Chicago Federal Reserve President Austan Goolsbee, who was against a December rate cut, said he expects more in 2026 than the current median projection.
Ethereum (ETH) slumped by 5.1 per cent to $3,090.61, Solana (SOL) declined by 4.5 per cent to $132.79, Cardano (ADA) depreciated by 3.8 per cent to $0.4103, and Dogecoin (DOGE) dropped 2.5 per cent to trade at $0.1373.
In addition, Bitcoin (BTC) lost 2.4 per cent to sell at $90,342.74, Litecoin (LTC) tumbled by 1.9 per cent to $81.86, Binance Coin (BNB) fell by 0.6 per cent to $886.93, and Ripple (XRP) slipped by 0.5 per cent to $2.02, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn