African Nations Flock to Oil and Gas as Geopolitics Drive Investment Surge

African nations are investing billions in oil and gas production, infrastructure development, and liquefied natural gas (LNG) projects. Nigeria is expected to see the start of 22 major offshore oil and gas projects between now and 2030, with investment potential of US$30-50 billion. According to Paul Wiseman for IIR News Intelligence, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved over US$57 billion in field development plans since 2024.

The NUPRC's CEO, Oritsemeyiwa Eyesan, stated that some of these approvals have translated to final investment decisions. Gordon Gorrie, Industrial Info Resources' senior vice president of research - Oil & Gas, observed that African nations are investing not only in production but also in midstream and other infrastructure due to geopolitical turmoil and a desire for energy security.

Africa is expected to invest US$41 billion in oil and gas projects this year, with production reaching 11.4 barrels per day (bpd). Nigeria leads the continent in crude production, with its output rising to 1.71 million bpd from April 2025 to April 2026.