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Energy in Nigeria

Map of Nigeria
Development of carbon dioxide emissions

In 2018, Nigeria's primary energy consumption was about 155 Mtoe.[1] Most of the energy comes from traditional biomass and waste, which accounted for 73.5% of total primary consumption in 2018. The rest is from fossil fuels (26.4%) and hydropower.[1][2]

Coal, petroleum reserves, natural gas, peat, hydroelectricity, solar and wind are major energy resources in Nigeria[3][4][5] and the country remains a top producer of crude oil and natural gas in Africa. Its production in 2022 averaged 1.2 million barrels of oil per day (bopd),[6] and 300 barrels per day (bpd) of condensate, making it the biggest oil producer on the continent. Nigeria has oil reserves of about 37 billion barrels and gas reserves of about 206 Tcf, ranking 10th and 8th in the world, respectively, and giving it plenty of room to further grow its hydrocarbons industry. However, Nigeria is also a member of the Organization of the Petroleum Exporting Countries (OPEC)[7] and is frequently subject to production quotas.

According to BMC, "Nigeria is Africa's energy giant. It is the continent's most prolific oil-producing country, which, along with Libya, accounts for two-thirds of Africa's crude oil reserves. It ranks second to Algeria in natural gas.[8] Most of Africa's bitumen and lignite reserves are found in Nigeria. In its mix of conventional energy reserves, Nigeria is simply unmatched by any other country on the African continent. It is not surprising therefore that energy export is the mainstay of the Nigerian economy and the government is targeting 90% electrification rate by 2030.[9] Also, primary energy resources dominate the nation's industrial raw material endowment."[10] There was a need for the country to scale up sustainable investment due to the destabilization of oil prices as a result of geopolitical risks and energy transition.

  1. ^ a b "Nigeria Energy Outlook". U.S. Energy Information Administration. Retrieved 8 April 2014.
  2. ^ A Review of Nigerian Energy Policy Implementation and Impact. April 2019. p. 3.
  3. ^ A Review of Nigerian Energy Policy Implementation and Impact. April 2019. p. 5.
  4. ^ Ogunsola, O. I. (1 January 1990). "History of energy sources and their utilization in Nigeria". Energy Sources (New York); (USA). 12 (2): 181–198. Bibcode:1990EneSA..12..181O. doi:10.1080/00908319008960198. ISSN 0090-8312. OSTI 6734300.
  5. ^ OGUNSOLA, OLAYINKA I. (1 January 1990). "History of Energy Sources and Their-Utilization in Nigeria". Energy Sources. 12 (2): 181–198. Bibcode:1990EneSA..12..181O. doi:10.1080/00908319008960198. ISSN 0090-8312.
  6. ^ "Oil Production Status Report". Nigerian Upstream Petroleum Regulatory Commission. Retrieved 17 August 2022.
  7. ^ "OPEC : Brief History". www.opec.org. Retrieved 26 February 2022.
  8. ^ "Top 10 African Countries Sitting on the Most Natural Gas". energycapitalpower.com. 16 July 2021. Retrieved 1 April 2022.
  9. ^ "Energy Sector – GET.invest". Retrieved 31 March 2022.
  10. ^ Oyedepo, Sunday Olayinka (23 July 2012). "Energy and sustainable development in Nigeria: the way forward". Energy, Sustainability and Society. 2 (1): 15. doi:10.1186/2192-0567-2-15. ISSN 2192-0567. S2CID 40436190.

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