Nigeria is leading Africa’s $221bn oil and gas investment drive, with the country expected to attract between $30bn and $50bn in investments into 22 major offshore oil and gas projects by 2030, a report has stated.
The new report, released by Industrial Info Resources, noted that more than 800 active capital oil and gas production, pipeline and terminal projects were being tracked across Africa, with a combined investment value exceeding $221bn.
It said Nigeria’s upstream regulator, the Nigerian Upstream Petroleum Regulatory Commission, expected 22 major offshore projects to commence between now and 2030, with investment potential of between $30bn and $50bn.
Recall that the NUPRC Chief Executive Officer, Oritsemeyiwa Eyesan, disclosed the projection at the Society of Petroleum Engineers’ annual conference in Lagos on August 5.
“Since 2024, the NUPRC has approved over $57bn in field development plan(s), some of which have translated to final investment decisions,” Eyesan said.
