POLITICAL Economy

Nigeria’s Future Lies in Gas, Says Former NNPC Boss

by admin on | 2026-06-15 12:21:19

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Nigeria’s Future Lies in Gas, Says Former NNPC Boss

By Ahmad Sirajo Makama, Abuja

Former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Daniel Dayo Kunle, has called for a decisive shift in Nigeria’s energy strategy, urging the country to move away from crude oil dependence and embrace gas-led industrialisation as the foundation for long-term economic growth.

Kunle made this call on Wednesday in Ilorin, the Kwara State capital, where he delivered the keynote address at the 4th Annual Distinguished Lecture, Book Presentation, and 80th birthday celebration of veteran engineer, Yusuf Lanre Sagaya. The event was organised by the Nigerian Society of Engineers (NSE), Ilorin Branch.

He said Nigeria’s continued reliance on crude oil exports has limited its ability to fully capture the value embedded in its vast hydrocarbon resources, warning that future prosperity depends on deeper investment in gas processing, refining, petrochemicals, and manufacturing.

According to him, oil and gas resources alone do not translate into wealth unless they are transformed through technology, engineering, and industrial systems into usable products that support economic activity.

“Oil beneath the ground is not wealth. Gas trapped underground is not wealth. They only become wealth when they are discovered, developed and converted into economic value,” he said.

Kunle argued that Nigeria must urgently reposition itself from a raw-export economy to a value-adding industrial hub, stressing that gas offers the most viable pathway for electricity generation, fertiliser production, petrochemicals, and industrial expansion.

He described Nigeria as “fundamentally a gas nation that also produces oil,” noting that the country’s estimated 210 trillion cubic feet of proven gas reserves present a major opportunity for industrial transformation if properly harnessed.

The former NNPC chief said infrastructure such as pipelines, processing plants, and distribution networks remains critical to unlocking the country’s gas potential and driving nationwide industrial growth.

He cited the Dangote Group refinery and petrochemical complex as evidence of how large-scale investment in downstream infrastructure can transform raw hydrocarbon resources into jobs, industrial output, and import substitution.

Kunle also warned that Nigeria risks losing economic value if it delays the development of its hydrocarbon resources, especially in a global energy market that is increasingly shifting toward cleaner alternatives.

“The opportunity before Nigeria will not remain forever. Every delay carries a cost. Every undeveloped resource is lost wealth,” he said.

He urged the government to strengthen policy stability, expand exploration activities, improve infrastructure, and encourage private sector participation in large-scale industrial projects.

Kunle further stressed the importance of investing in science, technology, engineering, and mathematics (STEM) education, noting that the country’s ability to compete globally depends on developing a skilled technical workforce.

He said nations that have succeeded economically did so not because of natural resources alone, but because they prioritised innovation, productivity, and value creation.

According to him, Nigeria must see gas not merely as fuel but as a strategic resource capable of powering industries, generating electricity, and driving national development.

He added that future generations would judge Nigeria not by the volume of hydrocarbons beneath its soil, but by how effectively those resources are converted into sustainable prosperity.

“The real measure of success will be what we build from what we have,” he said.

In the same vein, Captain Edward Boyo, Founder and CEO of Overland Airways, said Nigeria’s shift to gas-led industrialisation should also strengthen sectors such as aviation by improving energy reliability and infrastructure. He noted that this would enhance efficiency and connectivity nationwide.

He added that better gas utilisation would lower operating pressures in aviation and support broader economic growth through improved logistics and productivity.