The lack of power has been among the biggest obstacles to higher levels of economic growth, and Nigeria is in the midst of a long and complex effort to increase electricity supply by more than fivefold by 2020, from the current level of about 3400 MW to 20,000 MW. The immediate result of this is a spike in demand for capital to rehabilitate existing capacity and add new...
The landscape of onshore exploration and production (E&P) joint ventures has shifted considerably in recent years. Nigeria and Angola, the two most mature oil players in Africa, have witnessed the most mergers and acquisitions (M&A) on the continent of late, according to Standard Chartered. With some 2.2bn barrels of oil equivalent (boe) sold by international oil...
Given the scale of demand for petroleum products in both Nigeria and the broader ECOWAS region, the country stands to gain significant export revenues if it increases downstream production. Nigeria’s four refineries, though they raised their capacity utilisation rate somewhat in 2014, remain low at around the 30% mark overall, despite being allocated their full capacity...
With one of the world’s most comprehensive privatisation efforts taking place in Nigeria’s electricity sector, the problem of ensuring adequate natural gas supply for power generation has taken centre stage. Although natural gas production has steadily increased in recent years in line with domestic supply obligations and the broad road map of the Gas Master Plan (GMP),...
Still Africa’s largest oil producer, with an industry that in past decades has fuelled the growth of what is now its largest economy, Nigeria has the most voluminous reserves remaining on the continent. Yet it faces steep challenges, from policy uncertainty amid looming legislative reform to output disruptions due to unrest in the Niger Delta, the heart of its producing...
Four years after the passage of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act in April 2010, the results are clearly visible. In terms of in-country spend, the changes have been especially dramatic, although there is still ample room for Nigerian firms to expand in services, fabrication and integration particularly. The pace of local content...
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