A Balancing Act

The report warns that Nigeria's 'decade of gas' strategy, involving a planned USD 18.5bn investment in LNG infrastructure, risks creating stranded assets as global demand is forecast to fall by 2030. While Nigeria is currently the world's sixth largest LNG exporter, the report argues that prioritizing LNG may hinder economic diversification, increase fossil fuel subsidies, and expose the economy to external price fluctuations and climate-driven demand declines in Europe.

• Nigeria is pursuing a strategy termed the "decade of gas" (2021–2030) to increase LNG exports, supported by a planned investment of USD 18.5bn in infrastructure. As of 2022, Nigeria was the world's sixth largest LNG exporter with a 6% market share and an annual production capacity of 22.5 million tonnes.
• The expansion of LNG projects carries a significant risk of stranded assets because global demand for LNG is forecast to decline by 2030, particularly as European demand drops in accordance with climate targets.
• Prioritizing LNG exports may negatively impact Nigeria's broader development by stifling economic diversification through increased fossil fuel subsidies and leaving the economy vulnerable to global price fluctuations and the transition to a low-carbon world.
• The LNG industry in Nigeria is associated with several environmental and social challenges, including gas flaring, greenhouse gas emissions, health issues, theft, and conflicts affecting local communities.

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} }