A Balancing Act

This report by the International Institute for Sustainable Development (IISD) examines the risks associated with Nigeria's strategic focus on expanding liquefied natural gas (LNG) exports, specifically the potential for stranded assets and the hindrance of economic diversification.

• Nigeria is prioritizing LNG exports as part of a "decade of gas" (2021–2030) to offset falling oil revenues, despite already being the world's sixth largest LNG exporter with a 6% market share in 2022 and an annual production capacity of 22.5 million tonnes. However, the industry is plagued by theft, conflicts, gas flaring, greenhouse gas emissions, and health issues.
• The Nigerian government plans to spend USD 18.5bn on LNG infrastructure, but this investment risks creating stranded assets because global demand for LNG is forecast to fall by 2030 as European demand declines to meet climate targets.
• Prioritizing LNG expansion may stifle true economic diversification by increasing producer fossil fuel subsidies and leaving the economy exposed to external global price fluctuations and the global shift toward clean energy.

APA

Bridle,, B. V. (2024). A Balancing Act. International Institute for Sustainable Development. https://www.iisd.org/publications/report/balancing-act-lng-projects-nigeria

Chicago

Bridle,, Bathandwa Vazi,Richard. A Balancing Act. International Institute for Sustainable Development, 2024. https://www.iisd.org/publications/report/balancing-act-lng-projects-nigeria.

Wikipedia

{{cite report |last1=Bridle, |first1=Bathandwa Vazi,Richard |title=A Balancing Act |publisher=International Institute for Sustainable Development |date=6 June 2024 |url=https://www.iisd.org/publications/report/balancing-act-lng-projects-nigeria |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{bridle2024balancing, author = {Bridle,, Bathandwa Vazi,Richard}, title = {{A Balancing Act}}, institution = {International Institute for Sustainable Development}, year = {2024}, month = jun, url = {https://www.iisd.org/publications/report/balancing-act-lng-projects-nigeria}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }