The Nigerian National Petroleum Company Limited (NNPC Ltd) has called on African nations to reinforce their financing frameworks and improve payment systems as a way to unlock the continent’s vast natural gas resources and accelerate sustainable energy development.
The appeal was made during a strategic roundtable held by the African Oil and Gas Coalition at the ongoing Africa CEO Forum in Kigali, Rwanda.
The discussion brought together energy industry leaders and policymakers to address barriers limiting gas monetisation across Africa.
Speaking at the session themed “Gas without Cash: Breaking the African Monetisation Deadlock,” Olalekan Ogunleye, Executive Vice President for Gas, Power & New Energy at NNPC Limited, stressed the need for practical, investment-ready solutions to long-standing challenges in the sector.
He noted that Africa’s gas resources remain largely underdeveloped due to weak financing structures and persistent payment issues, adding that stable cash flow mechanisms are essential to attract long-term investors.
Ogunleye also urged the creation of stronger Africa-driven financial systems that reflect local market conditions while supporting sustainable growth across the energy value chain.
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“For Africa to fully unlock its gas potential, we must move from conversations about challenges to building practical, bankable solutions that work within African realities,” Ogunleye said.
He further emphasized that dependable payment systems are crucial for the commercial viability of gas projects across the continent, warning that limited trust in payment structures continues to discourage large-scale investment.
Ogunleye also pointed to Nigeria’s strategy in the sector, explaining that the country is pursuing an integrated value-chain approach aimed at strengthening its position as a regional energy hub.
“Nigeria is taking a comprehensive value-chain approach to the oil and gas business,” he said, adding that the goal is to improve commercial sustainability and deepen regional energy integration.
The Africa CEO Forum, an annual gathering of top executives, investors, and policymakers, focuses on issues such as investment mobilisation, regional integration, and long-term economic growth across Africa.