Nigeria Aims to Lure Up to $50 Billion in Offshore Oil Investments by 2030
Nigeria is poised to attract significant investments in its offshore oil and gas projects, with up to $50 billion expected to flow into 22 major projects by 2030. The country's upstream petroleum regulatory body has reported that it has already approved over $57 billion in field development plans since 2024.
The investment surge is part of a broader trend in Africa's oil and gas sector, with the continent's production expected to reach 11.4 million barrels per day by 2030. Nigeria's crude oil production has increased to 1.71 million barrels per day between April 2025 and April 2026.
The Shell Bonga/Southwest/Aparo complex is one of the key projects highlighted in the report, with an estimated investment potential of $30 billion to $50 billion. The project is expected to produce approximately 150,000 barrels of crude oil per day when fully operational.