Tinubu hails $800m Ima Gas FID, says 1973 discovery to drive prosperity

By Johnbosco Agbakwuru ABUJA — President Bola Tinubu has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, describing it as a major milestone in efforts to unlock Nigeria’s gas resources for investment, industrialisation, job creation and economic growth. The project, developed by Nigerian independent oil and gas company AMNI International in partnership with TotalEnergies, is expected to produce about 300 million standard cubic feet of gas per day at peak. 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. Despite its significant reserves and potential to provide feed gas for Nigeria LNG Limited, the resource remained undeveloped until the FID was announced on September 23, 2026.

The project is the fourth major gas development to reach FID since Tinubu assumed office, following the Iseni, Ubeta and HI projects. The President said the development demonstrated what could be achieved when investors were provided with a competitive, predictable and enabling environment. “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,” Tinubu said. “Our responsibility has been to create the conditions that turn Nigeria’s natural resources into productive investments and economic opportunities. ” He added: “The Final Investment Decision on Ima demonstrates what is possible when we provide investors with a competitive, predictable and enabling environment. ” Tinubu said his administration would continue to unlock more of the country’s gas resources to support industries, expand exports, create jobs and build lasting…