Nigeria, Another Country Emerge as Africa’s Largest Oil Producers in 2025
- A recent report has predicted that Nigeria and Angola will drive the surge in oil production in Africa
- Africa Energy Chamber (AEC) stated in its 2025 report that the two countries will drive output in 2025
- The report said the region continued to remain a key driver of oil supply, producing 3.7 million barrels daily
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Nigeria and Angola will drive Africa’s oil output to 3.39 million barrels daily in 2025 as producers seek to improve production by 500,000 this year.
According to a report by the Africa Energy Chamber (AEC) in its 2025 Outlook, West Africa will lead the continent’s oil production growth from 6.5 million barrels per day to seven million in 2025.
Source: Getty Images
Nigeria to become Africa’s highest oil producer
The report said the region remained a key driver of oil supply, producing 3.7 million barrels daily.
The continent is estimated to contribute about eight per cent to the global supply of crude oil in 2025, as Global and African supplies are projected to grow gradually.
Available data shows that Nigeria has surpassed the 1.5 million barrels per day oil output limit set by the Organisation of Petroleum Exporting Countries (OPEC) in December 2024.
The data said Nigeria’s output increased by 40,000 to reach 1.5 million barrels, the highest production level in 2025.
Nigeria targets 2.06 million barrels of crude in 2025, including blended and unblended condensates.
The AEC’s report charges Nigeria to curtail theft and vandalism to meet the target.
The Nigerian National Petroleum Company Limited (NNPCL) disclosed in October 2024 that it had achieved 1.8 million barrels, attributed to enhanced security measures.
Shell announces $5 billion investment in Nigeria
Legit.ng reported that Shell Nigeria announced a $5 billion final investment decision (FID) for Bonga North deep-water, located off Nigeria’s coast.
It will connect to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility.
The project depends on drilling, completing and commissioning 16 oil wells, comprising eight production wells and eight water injection wells.
Crude oil soars in the international market
Legit.ng earlier reported that Nigerians may experience a rise in petroleum product prices in the coming days due to the increase in the cost of Brent, the global benchmark for crude oil.
Crude oil is a key commodity that sets the price of refined petroleum products.
According to reports, on Sunday, January 12, 2025, Brent crude price reached $79.76 per barrel.
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Source: Legit.ng
