Finance, Technology Key to Unlocking Nigeria’s Gas Potential, Says Asalu – THISDAYLIVE

The Managing Director of Zamam Offshore Services Limited, Mr. Oluwole Asalu, has called for stronger financing frameworks, deliberate infrastructure investment and accelerated technology adoption to unlock Nigeria’s domestic gas potential.
Asalu made the remarks during a panel session at Lagos Energy Week recently themed: ‘Advancing Domestic Gas Utilisation: An ESG Framework for Emission Reduction’.
He identified infrastructure gaps as the most immediate constraint to domestic gas expansion, stressing that supply reliability remains a structural challenge.
“Demand for gas is not the problem. The real challenge is the infrastructure required to deliver gas at scale. Until we close that gap, reliability will remain a structural issue. These infrastructures are capital-intensive, social-impact assets that typically require the biggest funders to step in,” he said.
On technology, Asalu described digital systems as key to improving transparency and operational efficiency across the value chain.
He asserted when right systems are deployed, transparency improves, regulators gain clarity, and accountability becomes easier for everyone.
He added financing remained key to accelerate  ESG-aligned gas development.
“Finance has to be the starting point. Whoever provides capital will demand standards, metrics, and governance.
Increasingly, access to funding is tied directly to ESG alignment,” he said.
Also speaking at the event, Managing Director of Axxela GMI, Mr. Frank Umole, said the country’s main constraint is the cost and structure of capital required to build midstream infrastructure.
“We do not have a demand problem in Nigeria. We have over 210 trillion cubic feet of gas reserves and a young population that will continue to drive consumption. The problem is the cost of financing and the mismatch between infrastructure timelines and investor expectations,” he disclosed.
Asalu further stressed the need for talent development within the energy sector.
“We have identified a persistent talent gap in the industry, and we are taking deliberate steps to address it through structured exposure and partnerships that deepen the competencies of young engineers,” he said.