There are enormous energy resources of fossil fuels and renewable potentials in Nigeria. The need to encourage an energy supply mix that will emphasize the conservation of petroleum resources in such a way that will ensure their availability for economic development was analyzed. Utilizing three economic scenarios, the role of natural gas in Nigeria was studied in order to develop a future energy supply plan for Ghana and Nigeria. Results from the study show that, the growing demand for energy in Ghana and Nigeria can only be satisfied if massive expansion of renewable energies is achieved, combined with energy system efficiency. Matching the energy supply and demand of Ghana and Nigeria will continue to take place at all levels, but it is subject to the preconditions of uninterrupted supply, economic affordability, and ecological suitability.