Seplat Energy Targets the Global Market to Boost Nigeria’s FX Earnings
Samuel Mobolaji
Nigeria’s foreign exchange earnings are set for a significant boost as Seplat Energy Plc moves to commence gas exports, marking a strategic shift aimed at capturing international market value and supporting the country’s economic diversification drive.
At the 2025 Offshore Technology Conference (OTC) in Houston, Texas, Managing Director of Seplat Producing Nigeria Unlimited, Dotun Isiaka, announced the company’s readiness to export gas, following its recent acquisition of Mobil Producing Nigeria Unlimited (MPNU). The transaction has added more than 14 trillion cubic feet of gas to Seplat’s reserves, alongside access to robust processing and distribution infrastructure.
“These reserves are close to existing infrastructure, including three compression hubs with a combined capacity of 1.7 billion cubic feet per day. The key requirement is upstream investment to move the gas to these facilities and then to shore,” Isiaka said.
Seplat, a key supplier of gas for Nigeria’s power and industrial sectors, now plans to extend its reach beyond domestic borders, positioning natural gas as a cornerstone of Nigeria’s economic recovery and energy transition. Isiaka said gas must become “the primary driver of the nation’s economy,” adding that the company remains committed to balancing domestic supply with export growth.
Currently, Seplat’s Oben and Sapele gas plants have a combined processing capacity of 550 million standard cubic feet per day (MMscfd), although output remains about 200 MMscfd below that level. To close the gap, the company is seeking partnerships with nearby suppliers.
He also confirmed that the 300 MMscfd Assa North-Ohaji South (ANOH) Gas Plant is nearing completion. While initially intended for domestic consumption, Seplat is now exploring export opportunities to maximise returns.
“In the near term, we may need to explore alternative off-take options, including export,” Isiaka noted.
He further stressed the leadership role of indigenous companies like Seplat in driving Nigeria’s energy transition, but said such ambition requires coordinated collaboration across the energy value chain.
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