Back toour markets

Nigeria's oil and gas Industry

Nigeria

Nigeria's oil and gas industry in figures

Oil reserves37 billion barrels

Oil production2.11 million bopd

Gas reserves5.4 tcm

Gas production49.3 bcm

Nigeria: African Powerhouse

Nigeria’s oil and gas industry accounts for 10% of the country’s GDP, which is the largest in Africa, worth USD 402 billion. Despite petroleum’s modest contribution to the country’s GDP, it represents 86% of export income and 50% of government revenue. Oil remains the backbone of the nation’s economy.

The government aims to increase crude reserves to 40 billion barrels, as well as to achieve a daily national production of 3 million bopd. Together with this push to increase oil production, the Ministry of Petroleum Resources, together with NNPC, has deepened its commitment to focus on Nigeria’s vast gas resources.

The year 2020 was crowned Nigeria’s “Year of Gas.” IOCs and local E&P firms have undertaken the exploitation of non-associated gasfields to maximise abundant gas reserves. Nigeria is a gas haven within Africa of immense untapped potential.

The continuation and strengthening of the country’s local content policies, led by the NCDMB, in addition to the strategic downstream development Nigeria is starting to witness, all play a major role in TOGY’s coverage of this exciting market.

Interviews, articles and news on Nigeria's energy industry

John UWAJUMOGU Transaction Advisory Services Partner EY NIGERIA
Interview
Nigeria - October 18, 2021

John Uwajumogu, transaction advisory services partner at EY Nigeria, talks to The Energy Year about how the crisis has…

READ MORE
Uganda Nigeria refinery downstreamrefinery Kaabale Hoima FID
Articles
Nigeria - October 15, 2021

Nigeria’s refining sector is being revamped to meet increased demand and curtail the large amounts the country spends on…

READ MORE

Nigeria books

More books
Ado OSERAGBAJE Vice-President, Sub-Saharan Africa BAKER HUGHES
Interview
Nigeria - October 13, 2021

Ado Oseragbaje, vice-president for sub-Saharan Africa at Baker Hughes, talks to The Energy Year about the pace and…

READ MORE
Interview
Nigeria - October 12, 2021

Nuhu Yakubu, group CEO of Banner Energy, talks to The Energy Year about the importance of expanding access to gas in Nigeria and…

READ MORE
Bashir KAMOH NIMASA Nigeria
Interview
Nigeria - October 07, 2021

Bashir Jamoh, director-general and CEO of the Nigerian Maritime Administration and Safety Agency (NIMASA), talks to The Energy…

READ MORE
Christel Christel KVALVIK Managing Director EQUINOR NIGERIA ENERGY COMPANY
Interview
Nigeria - October 05, 2021

Christel Kvalvik, managing director of Equinor Nigeria Energy Company, talks to The Energy Year about the essential role of IOCs…

READ MORE
Amy JADESIMI CEO LADOL
Interview
Nigeria - September 24, 2021

Amy Jadesimi, CEO of LADOL, talks to The Energy Year about how the company is supporting the drive for sustainability and moves to diversify away from crude oil, as…

READ MORE
Nigeria Ikeja CEO Folake SOETAN
Interview
Nigeria - September 21, 2021

Folake Soetan, CEO of Ikeja Electric (IE), talks to The Energy Year about how the company is enhancing its distribution performance and services to customers and the…

READ MORE

 

WHOSE PLATFORM IS THIS?
ASK US

  • Do you have a question for TOGY about oil and gas?
  • If we know, we’ll tell you.
  • If not, we’ll ask the experts in the field.