FG Clears ₦2.28tn Power Sector Arrears as Gas Output Hits 7.63bcf/d, Attracts $10bn Investment

Nigeria’s daily gas production has climbed to 7.63 billion standard cubic feet from 6.83 billion last year, the Presidency announced at the Nigerian-British Chamber of Commerce Energy Day 2026. Proven reserves now exceed 215 trillion cubic feet after targeted presidential directives improved deep-water exploration, non-associated gas development and midstream infrastructure. International oil companies have redirected over $4 billion into deep-water and integrated gas, boosting Nigeria’s share of African upstream investment from 4 per cent in 2023 to about 40 per cent across 2024–25. A pipeline of $500 billion lies ahead. To restore liquidity in the gas-to-power chain, the Federal Executive Council approved up to ₦4 trillion in bonds. Series 1 bonds of ₦501 billion have been issued, and ₦2.28 trillion in verified arrears has been settled under a strategic reset rather than a bailout.

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