Nigeria Targets Increased Oil Sector Investments in 2025
The Nigerian government is aiming to attract more investments in the oil and gas sector in 2025, reinforcing its position as a key destination for energy projects in Africa. According to Olu Verheijen, Special Adviser on Energy to President Bola Tinubu, the country is poised to secure additional Final Investment Decisions (FIDs) following a successful 2024.
Speaking at the Nigeria International Energy Summit 2025, Verheijen revealed that Nigeria secured three out of Africa’s four FIDs last year, totaling over $5.5 billion. She highlighted that ongoing reforms, including presidential directives issued in February 2024, have helped remove investment barriers and boost investor confidence.
Among the major investment commitments secured last year were the Ubeta FID through a Total JV and Shell’s approval of the Bonga North FID. The government expects additional FIDs in 2025, alongside increased oil production and expanded deepwater operations.
Despite facing challenges in attracting oil and gas investments over the past decade, Nigeria has taken steps to improve its regulatory stability and security framework. The administration’s initiatives have already led to a 500,000 barrels per day increase in production, with a target of reaching 2.06 million bpd in the near term and four million bpd by 2030.
In addition to oil and gas, the government is working to expand domestic refining capacity and improve electrification efforts. A key initiative is the Presidential Metering Initiative, which aims to deploy seven million smart meters to enhance revenue collection and service delivery.
As Nigeria continues to push for more investments, these efforts are expected to drive economic growth, industrialization, and long-term prosperity.
