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Tinubu hails $800m Ima Gas FID, unlocks 50-year-old resource – EnviroNews
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President Bola Tinubu has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, unlocking a resource discovered 53 years ago.
Tinubu said the project marked another milestone in his administration’s drive to unlock Nigeria’s gas resources for investment, industrialisation, job creation and economic growth.
Developed by Nigerian independent energy company, AMNI International, in partnership with TotalEnergies, the project is expected to produce about 300 million standard cubic feet of gas daily at peak.
This is contained in a statement by Presidential Spokesperson, Mr. Bayo Onanuga, on Wednesday, September 23, 2026, in Abuja.
The Ima gas resource, located offshore in OMLs 112 and 117, was discovered in 1973 but remained undeveloped for more than five decades.
In spite of its significant reserves and potential as feed-gas for Nigeria LNG Limited, the resource remained underground and contributed little to Nigeria’s economy.
The Ima FID is the fourth major gas project to reach final investment decision since Tinubu assumed office, following the Iseni, Ubeta and HI projects.
Tinubu said the development demonstrated the impact of reforms aimed at creating a competitive, predictable and enabling environment for investors.
“For more than 50 years, the gas beneath Ima remained a resource with enormous potential, but potential alone does not create jobs, finance businesses or improve lives.
“Our responsibility has been to create the conditions that turn Nigeria’s natural resources into productive investments and economic opportunities,” he said.
The President said his administration remained committed to unlocking more gas resources to power industries, expand exports, create jobs and promote sustainable prosperity.
Since assuming office, Tinubu has prioritised reforms aimed at reversing years of underinvestment in Nigeria’s oil and gas industry.
In 2024, he issued Presidential Directives developed by the team led by his Special Adviser on Energy, Ms. Olu Verheijen, to improve fiscal competitiveness, shorten contracting timelines and reduce costs.
Verheijen said the Ima project demonstrated the objective of the reforms, which was to move Nigeria’s resources from beneath the ground into productive projects.
“ A gas discovery made in 1973 can only contribute to prosperity when somebody invests the capital to develop it, banks finance it, contractors build it, and Nigerians work on it.”
The project also reflects growing Nigerian participation in the energy value chain, with AMNI International, a Nigerian-owned exploration and production company, holding a majority interest.
Nigerian financial institutions have arranged 77 per cent of the project’s financing, while about 60 per cent of its workforce is expected to come from host communities.
The host communities include Bonny, Finima and Andoni in Rivers State, while the project is expected to support LNG exports, industrial feedstock, fertiliser and petrochemical production and power supply.
“Natural resources have value only when they are converted into opportunities for our people.
“Our goal is to ensure that Nigeria’s gas powers Nigerian prosperity,” Tinubu said.
By Muhyideen Jimoh
