Ifeoma Onyekachi

World Bank Backs Africa’s Gas Expansion, Signals Fresh Investment Openings.

Efforts to unlock Africa’s vast gas potential received renewed momentum as the World Bank outlined a regional strategy aimed at boosting energy infrastructure, attracting private capital, and expanding access to reliable power across the continent.

Speaking at the Decade of Gas Ministerial Roundtable and Workshop in Abuja, the Bank’s Country Director for Nigeria, Mathew Verghis represented by Justin Beleoken said the institution’s engagement goes beyond financing to include policy support, technical expertise, and investment facilitation.

He explained that the World Bank Group operates through five core institutions that collectively support governments and private enterprises, with a strong emphasis on infrastructure development and reform-driven growth.

According to him, the International Finance Corporation plays a pivotal role in catalysing private sector participation by financing developers and unlocking investment opportunities, while the Multilateral Investment Guarantee Agency helps de-risk projects and attract capital through guarantees.

Verghis noted that although the Bank’s involvement in the gas sector has evolved, support for gas-to-power initiatives remains central to its broader energy agenda, particularly as countries seek cleaner transition fuels to drive industrialisation.

He outlined five strategic priorities guiding the Bank’s interventions, including expanding access to affordable and sustainable electricity, promoting economic growth and job creation, strengthening regional integration through cross-border energy infrastructure, and mobilising private investment.

A key initiative under this framework is the Mission 300 programme, designed to deliver electricity access to 300 million people across Sub-Saharan Africa one of the most ambitious electrification efforts on the continent.

Highlighting ongoing interventions, he said the Bank is supporting electricity and gas sector reforms in Nigeria, offshore gas supply and domestic power projects in Ghana, as well as major cross-border pipeline developments and emerging investments in countries such as Senegal, Mauritania, and Mozambique.

He added that the Bank’s extensive experience across multiple regions positions it to deepen partnerships and help African countries harness their gas resources for sustainable and inclusive development.

In a separate highlight of the event, Nigeria’s Minister of State conferred a traditional honorary title on renowned Chinese scientist, George Gao, in recognition of his contributions to global health. The gesture, rooted in longstanding cultural practices from Bauchi State, underscored Nigeria’s appreciation for international collaboration in advancing public health.

Experts at the forum stressed that as countries strengthen pandemic preparedness frameworks in the wake of the COVID-19 pandemic, sustained dialogue and coordinated action remain essential to building resilient health systems capable of responding to future global threats.