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The Nigeria Gas Landscape: Implications for Economic Development


 The gas supply system in Nigeria is today skewed to favour exports over domestic utilization, thus leaving unfulfilled what have always been the twin objectives of Nigeria’s gas policies–robust foreign exchange earner and stimulation of the national economy. So far as this review has shown, neither of these objectives has been achieved – yet. FG earnings from export oriented NLNG at $43Billion in the last twenty years is about the same quantum that is on average distributed annually to the states via the Federal Allocation Accounts Committee (FAAC). While domestic gas supply is sufficient to generate only 16W of power per Capita – the lowest in a peer comparison of select African countries.
 However, it has not always been the case that gas enjoyed a prime focus in the energy policy framework of Nigeria as it does today. Gas is receiving increasingly more attention as noted by deliberate policy actions taken at various times – the enactment of the NLNG fiscal act in 1989, introduction of the Associated Gas Framework Agreement (AGFA) provision in the PPTA in 1998, the incentives for gas utilization projects in the Corporate Income Tax Act (CITA) introduced in 1998 and 1999, Gas Pricing policy of 2008, the National Gas Policy framework of 2016 and more recently the Flare Gas Regulations of 2018 – all targeted at the different components of the gas value chain – upstream production, market sector development, pricing, off-take, and related downstream utilization.
 Global increase in natural gas utilization rides on the back of geopolitical dynamics such as climate change action, growth in emerging economies, and increased US shale gas production. Contextualizing Nigeria’s gas polices against the wider canvass of geopolitical concerns which include the interplay with Nigeria’s energy security suggests that Nigeria will have to take deliberate policy steps – from upstream gas fiscal terms reforms, through to pricing reform, project prioritization, strategic gas portfolio allocation to refocus effort on channelling gas to deliver a "harder domestic punch."