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Nigeria leads Africa’s $221bn oil investment drive

Summary by Informed1 source

Summary

A new report says Nigeria is expected to attract up to $50bn for offshore oil and gas projects by 2030 as part of a wider African investment pipeline worth more than $221bn.

Highlights

  • Industrial Info Resources said it is tracking more than 800 active oil and gas production, pipeline and terminal projects across Africa.
  • The report said Nigeria could draw between $30bn and $50bn for 22 major offshore oil and gas projects by 2030.
  • The Nigerian Upstream Petroleum Regulatory Commission expects the projects to start between now and 2030.
  • NUPRC CEO Oritsemeyiwa Eyesan said the commission has approved more than $57bn in field development plans since 2024, some of which have become final investment decisions.
  • The report said Africa’s oil and gas outlook is being supported by energy security concerns and geopolitical uncertainty.

Sources

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