“We can solve energy problems in Africa only with sustainable investments in oil and gas. In Nigeria, there are robust legal frameworks to regulate the oil and gas industry and to continue exploration but in a cleaner, greener and more sustainable way.”
Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil)
The Energy Year Nigeria 2025 provides its readers with a comprehensive and extensive picture of the dynamic resurgence of Nigeria’s hydrocarbons sector. This resurgence is marked by renewed investments, transformative policy reforms and expanding opportunities across the value chain, particularly in exploration, production and refining. As Africa’s leading oil producer and a growing player in natural gas, the country is leveraging its vast reserves to drive energy security and domestic industrialisation, and enhance its crude-exporter status and global market relevance.
“Our primary objective is to ensure domestic energy security. Beyond that, we aim to sustain foreign exchange earnings from energy exports to Europe while positioning Nigeria as an energy hub for West Africa and sub-Saharan Africa. Achieving this requires an open, data-driven approach, leveraging global insights to inform strategic decisions.”
Olu Verheijen, Special Adviser on Energy to President Bola Ahmed Tinubu
The report’s focus revolves around Nigeria’s steps to reshape the operational upstream landscape. These steps include greater transparency to attract FDIs while also empowering local E&P operators. On the one hand, major IOCs have advanced their divestment strategies, transferring onshore and shallow-water assets to indigenous players to focus more on deepwater opportunities. On the other hand, new licensing rounds and efforts to tackle crude theft are restoring investor confidence, as shown by the country being the top destination in Africa for upstream capital expenditure in 2024.
The Energy Year Nigeria 2025 portrays the country’s ambitious goals from upstream to downstream, highlighting the strategies adopted by both the government and businesses to increase domestic oil and condensate output and become a predominant regional and global player in non-associated gas.
This 10th edition of The Energy Year series on Nigeria offers a 360-degree overview of the domestic energy landscape, providing critical insights on how the country is actively positioning itself to take on a greater regional and global role in an increasingly strategic area of the world. The report reflects the thoughts of many of the sector’s important movers and shakers and delivers detailed analysis on the latest developments in the country’s energy sector. It equips investors, policy makers and stakeholders with the intelligence needed to navigate and capitalise on Nigeria’s energy sector resurgence and the opportunities ahead.
