Finance and technology seen as crucial for Nigeria’s gas sector growth
The Managing Director of Zamam Offshore Services Limited, Oluwole Asalu, has emphasized the need for stronger financing frameworks and advanced technology to unlock Nigeria’s gas potential. He highlighted that infrastructure gaps, not demand, are the main challenge facing the sector. Frank Umole, Managing Director of Axxela GMI, also pointed out that the cost and structure of capital are key bottlenecks. Both leaders stressed the importance of talent development and responsible energy practices.
TLDR
- Oluwole Asalu called for deliberate infrastructure investment and accelerated technology adoption to boost Nigeria’s domestic gas sector.
- He identified infrastructure gaps as the main constraint, noting that demand for gas is not the issue.
- Frank Umole highlighted that the real challenge is the cost and structure of capital needed for midstream infrastructure.
- Both leaders emphasized that access to funding is increasingly tied to ESG (Environmental, Social, and Governance) alignment.
- Talent development and local content advancement were also identified as important for the industry’s growth.
