Industry news
The energy industry in Nigeria
Nigeria is the largest oil producing country in Africa, and the 11th largest producer in the world. It is currently an OPEC member and oil accounts for 95% of the country’s exports, with the United States being their largest client. Nearly all of the sector is located on the deltas of the Niger River, though the number of offshore coastal oil rigs is also on the up. The country has a total of 159 oil fields and 1481 oil wells which are supported by a well-established pipe network. Although Nigeria has vast mineral resources, mining currently only contributes 0.5% to its’ GDP but the federal government has plans to increase this to 10% by 2026. Some estimates place 34 solid minerals in 450 locations in the country, all barely explored.
