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Nigeria energy report

Nigeria energy report
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Format
3 files (PDF report, 2 Excel files)
Pages
60 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • ENERGY AND CLIMATE POLICY FRAMEWORK
  • ENERGY COMPANIES
  • ENERGY SUPPLY AND DEMAND
  • ENERGY USE AND PRICE BY SECTOR
  • ISSUES AND PROSPECTS
  • STATISTICS
  • ABBREVIATIONS
  • GLOSSARY

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

Price
890 €

Overview

Nigeria is advancing its energy transition with ambitious targets, including 30% renewable energy in its power mix and universal electricity access by 2030. The *Energy Transition Plan* prioritises emissions reduction across key sectors while leveraging gas as a transitional fuel. Challenges persist in power reliability, privatisation, and regulatory reforms, alongside efforts to curb gas flaring and expand refining capacity.

Get more details on the table of contents and data files, as well as the list of graphs and tables by browsing the tabs below.

Highlights

  • Nigeria is targeting 30% of renewables in its power mix and universal power access by 2030. The country aims to reduce its GHG emissions by 35% in 2035 (compared to 2018 level).
  • Several distribution companies, accounting more than half of customers, are insolvent, and should be sold in the near future. TotalEnergies, Shell, ExxonMobil, and Chevron account for 3/4 of total oil output, while Shell, TotalEnergies, Chevron, and Eni contribute to 60% of gas production. Shell and ExxonMobil are divesting from their upstream assets.
  • Hydrocarbon output is declining: gas extraction fell by 14% since 2020 and oil production halved since 2010. Following the starts of a large refinery, oil products output started to ramp up, covering 57% of demand.
  • Final energy consumption increased by a fifth over 2017-2024. The share of transport in final demand increased from a quarter in 2010 to a third in 2024.
  • Power demand is expected to grow rapidly (7%/year by 2050).
  • Several new oil and gas projects are under development.
8th
largest proven gas reserves in the world
1st
crude oil producer in Africa
30%
of renewables in the power mix in 2030

  • Energy & Climate Policy Framework

    The Federal Ministry of Petroleum Resources (FMPR) is responsible for oil and gas policy. The FMPR also oversees the Nigerian Nuclear Regulatory Authority (NNRA).

    The Federal Ministry of Power is responsible for power supply.

  • Energy Companies

    Oil:

    NNPC, Nigerian National Petroleum Company, represents national interests in oil and gas exploration. NNPC formally became a commercial company in 2022, as required by the PIB. The government is considering a partial privatisation. International companies operate mainly through joint ventures and, since 1993, through production sharing contracts (PSC) signed with NNPC.

  • Energy Supply & Demand

    Resources:

    Nigeria has considerable oil and natural gas resources (5 Gt and around 6 000 bcm proven reserves at end-2024). The country is the largest gas proved reserve holder in Africa (8th in the world) and the second oil and NGL proved reserve holder in Africa, after Libya.

  • Energy Use and Price by Sector

    Energy Prices in Transport:

    After increasing by 67% in 2023, following the removal of subsidies (prices tripled in local currency), the price of gasoline in dollars fell by 19% in 2024 to US$0.59c/l, in a context of a strong depreciation of national currency. Similarly, since 2023, the price of diesel in dollars has declined by 20%/year to US$0.92/l (-40%).

  • 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: Primary Consumption Trends by Energy Source
  • Graph 2: Total Consumption Market Share by Energy (2024)
  • Graph 3: Installed Electric Capacity by Source
  • Graph 4: Installed Electric Capacity by Source (2024)
  • Graph 5: Gross Power Production by Source & Consumption
  • Graph 6: Power Generation by Source (2024)
  • Graph 7: Crude Oil Production & Consumption
  • Graph 8: Petroleum Products Production & Consumption
  • Graph 9: Gas Production & Consumption
  • Graph 10: Coal Production & Consumption
  • Graph 11: GHG Emissions and CO2-energy Emissions
  • Graph 12: Final Demand Trends by Energy Source
  • Graph 13: Final Consumption by Sector
  • Graph 14: Final Consumption Market Share by Sector (2024)
  • Graph 15: Final Consumption in Industry by Energy Source
  • Graph 16: Energy Prices in Industry (Taxes Included)
  • Graph 17: Final Consumption in Transport by Energy Source
  • Graph 18: Energy Prices in Transport (Taxes Included)
  • Graph 19: Final Consumption in Residential, Services, Agriculture by Energy Source
  • Graph 20: Energy Prices in Residential (Taxes Included)
  • Graph 21: Upcoming New Capacity by Energy Source
  • 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.

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).