Nigeria’s Ibom LNG & Logistics Base has entered into a $700 million Memorandum of Understanding (MoU) with Securo Investment Group from the United Arab Emirates. The deal, signed at the World Future Energy Summit in Abu Dhabi, will help fund a 100 mscfd liquefied natural gas (LNG) plant in Akwa Ibom State.

The agreement highlights growing collaboration between Nigeria and the UAE in the energy sector. For the UAE, the partnership offers opportunities to secure future gas supplies, expand its influence in global LNG and hydrogen markets, and explore investment prospects in Nigeria’s diverse economy.

Minister of Budget and Economic Planning, Atiku Bagudu, stressed that such partnerships are key to achieving shared sustainable growth.

Nigeria’s LNG industry has historically faced hurdles including limited infrastructure, security issues, and policy gaps. Despite these challenges, the government has declared 2021–2030 as the “decade of gas,” aiming to fully leverage the country’s gas resources for economic growth.
Currently, Nigeria LNG runs a six-train facility on Bonny Island, producing 22 million tonnes of LNG annually.

The ongoing Train 7 expansion will add another 8-9 mtpa. The UAE brings experience from its Ruwais LNG project in Abu Dhabi, expected to start exports in 2028 with a capacity of 9.6 mtpa.

The UAE is also investing in the $25 billion Nigeria-Morocco Gas Pipeline, a project designed to transport Nigerian gas to Morocco and onward to European markets.

This deal strengthens Nigeria’s LNG sector and signals deeper economic cooperation with the UAE.