Nigeria Set to Attract Up to $50bn as Africa’s Oil, Gas Investments Surge

Nigeria is emerging as a key destination for oil and gas investments in Africa, with projections indicating the country could attract between $30 billion and $50 billion into major offshore energy projects by 2030.

Industry data shows that Africa currently has hundreds of active oil and gas projects worth more than $221 billion, covering production, pipelines, and terminal infrastructure. Nigeria is expected to account for a significant share of this investment, driven by plans to develop 22 offshore projects over the next few years.

The country’s upstream regulator has reported growing investor confidence in the sector, with several approved field development plans already progressing toward final investment decisions.

Analysts say Africa’s energy industry is benefiting from increasing global demand for energy security and shifting market dynamics. Several delayed oil, gas, and liquefied natural gas projects across the continent are now expected to advance toward production.

Experts project that offshore developments will receive the bulk of new funding, while investments in LNG facilities and midstream infrastructure are also expected to increase.

Nigeria’s crude oil output has shown steady growth over the past year, while authorities remain optimistic that production levels will rise further before the end of 2026. Major deepwater projects currently under development are expected to strengthen the country’s production capacity and boost its position in Africa’s energy market.

Government reforms and investment-friendly policies introduced in recent years are also seen as key factors supporting renewed interest in Nigeria’s oil and gas industry.