Nigeria announces $800 million investment decision for Ima gas project

Nigeria’s presidency announced an $800 million final investment decision for the Ima gas project on September 23, 2026. The development is led by Nigerian independent AMNI International in partnership with TotalEnergies, according to the State House statement. The presidency said the offshore resource, located in OMLs 112 and 117, was discovered in 1973 and had remained undeveloped for more than five decades. Peak production is expected to reach approximately 300 million standard cubic feet of gas a day. The statement identifies the resource as a potential source of feedgas for Nigeria LNG, rather than reporting that supply has already begun. Nigerian financial institutions arranged 77% of project financing, the presidency said. It also expects around 60% of the workforce to come from host communities, including Bonny, Finima and Andoni in Rivers State. Those employment shares are projections. The announcement establishes an investment decision, not first gas or completed construction, and does not give a production start date in the cited account. The State House identifies Ima as the fourth major gas development to reach an investment decision during the administration, after Iseni, Ubeta and HI. AMNI holds a majority interest in the asset, which the presidency presents as an example of increasing Nigerian participation in upstream development. The statement links the investment to presidential directives issued in 2024 to improve fiscal competitiveness, shorten contracting timelines and reduce costs, building on the Petroleum Industry Act of 2021. Nexus analysis: These are the presidency’s explanations for the investment, not independent proof of the reforms’ effects. Project delivery, actual gas output and realised local employment remain separate outcomes to assess after the announced decision.