Skip to main content

Nigeria energy report

Nigeria energy report
mail
arrow_upward
Update
Format
3 files (PDF report, 2 Excel files)
Pages
40 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

Download the Table of Contents

Download samples
Report Sample Country Data Sample Power Generation Sample

Buy Nigeria energy report

Price without VAT. Depending on your statute and location, VAT might be applicable. Get in touch with us for more information.

After validation, you will immediately receive 3 files by email (one pdf report and 2 excel files containing the datasets).

Price
890 €

Overview

This analysis includes a comprehensive Nigeria energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Highlights

  • Nigeria aims to reduce its GHG emissions by 47% in 2030 compared to a BAU scenario and to reach net-zero emissions by 2060.
  • Oil and gas production is concentrated in the hands of five majors (Shell, TotalEnergies, ExxonMobil, Chevron, and Eni).
  • Four private companies account for 60% of power generation.
  • Nigeria is the largest African oil producer and the second largest gas producer.
  • Gas production has remained stable since 2017, while oil production has almost halved since 2010.
  • Only 30% of the installed capacity is available.
  • The price of diesel more than doubled in 2022. The country reintroduced subsidies on motor fuels in 2022 after removing them in 2020.
  • Electricity consumption per capita is three times lower than the average for Sub-Saharan Africa.
  • Biomass still accounts for around 3/4 of total energy consumption.
  • Gas consumption is increasing rapidly, driven up by industrial demand.
  • Around 5.8 GW of gas-fired plants and 0.7 GW of hydro projects are currently under construction.
  • The construction of a seventh LNG train of 8 Mt/year started in 2021.
  • A 650 kb/d refinery is expected to enter operation in 2023.
9th
largest proven gas reserves in the world
1st
crude oil producer in Africa
~7%
of global LNG exports

  • Institutions & Energy Policy

    The Federal Ministry of Petroleum Resources (FMPR) supervises the oil and gas sectors through its Department of Petroleum Resources (DPR). The FMPR also oversees the Nigerian Nuclear Regulatory Authority (NNRA).

  • Energy Supply

    Resources:

    Nigeria has considerable oil and natural gas resources (5 Gt and around 5 800 bcm proven reserves at end-2021). The reserves are mainly located in the Niger Delta and in the Gulf of Guinea. The country is the largest gas proved reserve holder in Africa and the second oil and NGL proved reserve holder in Africa, after Libya.

  • Energy Prices

    Oil:

    After declining by a fifth in 2020 and stability in 2021, the average price of diesel in dollars was multiplied by a factor of 2.5 in 2022, reaching US$1.6/l. The price of gasoline remained stable (US$0.45/l). At purchasing power parity, gasoline prices in Nigeria were between 65 and 70% lower than in Ghana, Ivory Coast, and Senegal in 2021.

  • Energy Consumption

    Consumption per capita was 0.8 toe in 2021 (around 40% higher than the average for Sub-Saharan Africa). Electricity consumption per capita is relatively low in comparison to neighbouring countries and reached 140 kWh/hab in 2021 (almost three times lower than the average for Sub-Saharan Africa).

  • Issues & Prospects

    According to the National Integrated Infrastructure Masterplan (2015), the country needs US$1 000bn to develop its energy sector over the next 30 years, comprising US$600bn for power and US$400bn for oil & gas.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2021, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2021, %)
  • GRAPH 5: Gasoline & diesel prices (US$/l)
  • GRAPH 6: Electricity prices for industry and households (US$c/kWh)
  • GRAPH 7: Consumption trends by energy source (Mtoe)
  • GRAPH 8: Total consumption market share by energy (2021, %)
  • GRAPH 9: Final consumption market share by sector (2021, %)
  • GRAPH 10: Oil consumption (Mt)
  • GRAPH 11: Oil consumption breakdown by sector (2021, %)
  • GRAPH 12: Electricity consumption (TWh)
  • GRAPH 13: Electricity consumption breakdown by sector (2021, %)
  • GRAPH 14: Natural gas consumption (bcm)
  • GRAPH 15: Gas consumption breakdown by sector (2021, %)
  • GRAPH 16: Coal consumption (Mt)
  • GRAPH 17: Coal consumption breakdown by sector (2021, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator, gas plant projects by status and operator and LNG contracts.

The Nigeria energy market data since 1990 and up to is included in the Excel file accompanying the Nigeria country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Nigeria Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Nigeria energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).