The Nigerian National Petroleum Company Limited (NNPC Ltd) has called on African countries to overhaul financing frameworks and improve payment systems in order to unlock the continent’s enormous gas reserves and accelerate sustainable energy development.
The appeal was made during a high-level strategic roundtable organised by the African Oil and Gas Coalition at the ongoing Africa CEO Forum in Kigali, Rwanda, where industry leaders, investors and policymakers gathered to discuss the future of Africa’s energy sector.
Speaking at the session themed, “Gas without Cash: Breaking the African Monetisation Deadlock,” NNPC Ltd’s Executive Vice President for Gas, Power and New Energy, Olalekan Ogunleye, stressed that Africa possesses abundant natural gas resources capable of transforming economies across the continent, but noted that weak financial systems and poor commercial structures continue to hinder growth and investment.
According to a statement released through the official X handle of Nigerian National Petroleum Company Limited on Friday, Ogunleye said African nations must move beyond rhetoric and begin implementing practical, bankable and investor-friendly solutions that can address the longstanding barriers to gas monetisation.
He explained that although Africa is richly endowed with gas reserves, many projects remain stalled or underdeveloped because investors are wary of unstable payment systems, poor revenue assurance mechanisms and weak financing structures.
Ogunleye emphasised that without reliable cash flow arrangements and sustainable commercial frameworks, attracting long-term capital into the gas industry would remain difficult.
He stated that the continent must create an enabling environment that guarantees financial transparency, reduces investment risks and ensures timely payments across the gas value chain.
According to him, energy investors are increasingly prioritising certainty and bankability before committing resources to large-scale projects, especially in emerging markets where infrastructure deficits and policy inconsistencies often create uncertainties.
The NNPC executive noted that Africa’s gas sector has the potential to play a major role in addressing energy poverty, industrialisation and economic growth if the right structures are put in place.
He added that natural gas remains a critical transition fuel capable of supporting cleaner energy ambitions while also meeting the immediate power and industrial needs of developing economies.
Ogunleye further urged African governments and industry stakeholders to collaborate in designing innovative financing models capable of unlocking investments for gas infrastructure, including pipelines, processing facilities, storage systems and power plants.
He stressed that regional cooperation would also be vital in creating integrated gas markets capable of supporting cross-border trade and improving energy access across the continent.
Industry stakeholders at the roundtable reportedly discussed the need for stronger partnerships between governments, financial institutions and private sector players to create sustainable frameworks that would attract both local and international investors.
Participants also highlighted the importance of policy stability, regulatory reforms and transparent governance in driving confidence within Africa’s energy market.
The discussions come at a time when many African countries are intensifying efforts to harness their gas resources amid rising global demand for cleaner energy alternatives and growing concerns over energy security.
Nigeria, Algeria, Mozambique, Senegal, Tanzania and several other African nations are increasingly positioning natural gas as a strategic pillar for economic diversification and energy transition.
Experts at the forum noted that despite Africa accounting for significant global gas reserves, the continent still struggles with inadequate infrastructure, financing gaps and low domestic utilisation levels.
They argued that addressing these challenges could help millions of Africans gain access to reliable electricity while also boosting industrial productivity and regional trade.
The Africa CEO Forum, which annually gathers top business executives, investors and government officials from across the continent, has continued to serve as a major platform for discussions on economic transformation, energy security and sustainable development in Africa.
Observers say NNPC Ltd’s intervention reflects growing recognition among African energy leaders that financing and commercial viability remain central to the continent’s ambition of becoming a major player in the global gas economy.
Analysts also believe that with stronger payment systems, clearer policies and investor-friendly reforms, Africa could unlock billions of dollars in gas investments capable of driving industrial expansion, job creation and long-term economic growth across the region.
