Ekpo calls for innovative financing, regional cooperation to unlock Africa’s gas potential

Business Pointers

By Seun Ibiyemi

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has called for innovative financing models, stronger private sector participation and deeper regional collaboration to unlock Africa’s vast natural gas potential.

Ekpo made the call on Monday in Abuja at a Ministerial Roundtable on Regional Gas Development and Cooperation in Africa, organised by the Decade of Gas Secretariat in collaboration with the World Bank.

The forum brought together key stakeholders to advance the implementation of Nigeria’s Decade of Gas initiative and assess progress made so far.

Speaking at the event, Ekpo stressed the need for enhanced partnerships with international institutions and stronger cooperation among African nations to harness the continent’s abundant gas resources and tackle energy poverty.

“Africa holds over 600 trillion cubic feet of proven natural gas reserves, yet more than 600 million people lack access to electricity, while millions still rely on traditional fuels for cooking.

This is not a question of resource availability, but one of coordination, infrastructure and collective action,” he said.

The minister described natural gas as a critical driver of industrialisation, improved energy access and economic resilience, noting that no single country could fully unlock its potential in isolation.

Highlighting Nigeria’s strategic role, Ekpo said the country, with over 210 trillion cubic feet of gas reserves, is implementing its Decade of Gas initiative to position itself as a regional energy hub.

He pointed to major cross-border infrastructure projects such as the West African Gas Pipeline, Trans-Sahara Gas Pipeline, Nigeria–Equatorial Guinea Gas Pipeline, and Nigeria–Morocco Gas Pipeline as key examples of how collaboration can drive growth across the continent.

To accelerate progress, Ekpo outlined four priority areas, including the development of integrated regional gas markets, expansion of gas-to-power and clean cooking initiatives, mobilisation of climate-aligned financing, and harmonisation of policy and regulatory frameworks.

He underscored the importance of regulatory alignment to attract investment and fast-track project execution, citing Nigeria’s Petroleum Industry Act as a model for other countries.

Describing natural gas as Africa’s “transition fuel,” Ekpo said it holds the potential to support economic growth while reducing emissions, and called for a just and inclusive energy transition tailored to the continent’s unique development needs.

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He urged stakeholders to move beyond dialogue and focus on actionable outcomes, including identifying bankable cross-border projects and establishing clear implementation frameworks.

Ekpo reaffirmed Nigeria’s commitment to collaboration, investment and partnership in building an integrated African gas market.

“With aligned vision and coordinated efforts, Africa can transform its gas resources into shared prosperity through connected infrastructure, integrated markets and collective ambition,” he said.

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