Taking office in March 2015, Muhammadu Buhari, president of Nigeria, has made improving governance a top objective for his administration, with the energy sector one of his first priorities. Central to this is an overhaul, already in the works, for the Nigerian National Petroleum Corporation (NNPC) – the state-owned enterprise that both...
There is a quiet revolution under way in Nigeria’s energy sector. As part of a broader push to boost local participation in the energy industry, a range of indigenous companies, such as Shoreline Energy, Frontier Oil and Transcorp, have emerged over the past decade, increasingly gaining access to a modest share of the upstream segment and...
As Africa’s largest oil producer, Nigeria’s energy sector accounts for 90% of exports and at least 50% of government revenues. The country is second only to Libya on the continent in the size of its reserves, and onshore fields have been productive for decades. Offshore deposits are a frontier that has been massively underexplored, and in...
Crude oil refining emerged early on as an area of focus for the government of Muhammadu Buhari, who within weeks of assuming office as president had begun rolled out plans to overhaul the existing facilities. The government has also initiated a fresh attempt to build new plants, with a focus on attracting private investment, such as the...
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