Energy

Nigeria is Africa’s top oil producer and possesses the largest proven gas reserves on the continent, making it a key player in the global energy market. However, despite its wealth of resources, the country has been unable to meet domestic demand and has one of the lowest net electricity generation rates per capita in the world. The pandemic aggravated this trend, as 2020 saw a steady decline in global demand for petroleum products. However, optimism for an improved macroeconomic environment in 2021 bodes well for investment in the energy sector, with growing opportunities in the nascent renewables segment as the country looks to expand electricity access to underserved communities.

This chapter contains an interview with Mele Kolo Kyari, Group Managing Director of the Nigerian National Petroleum Corporation.