Nigeria on Brink of Oil Revenue Collapse by 2030

Nigeria is facing a significant fiscal risk as global oil demand nears its peak between 2030 and 2035, according to a report by climate and energy think tank E3G.

The report warns that Nigeria could experience a more than 60% decline in oil revenue from 2030, which would create pressure on the country's public finances, sovereign debt, exchange rates, investor confidence, national oil company transfers, and government spending.

E3G identifies Nigeria alongside Algeria and Angola as vulnerable mid-tier oil producers due to their dependence on petroleum exports, limited fiscal buffers, and challenges in diversifying government revenues.