Nigeria’s Oil Sector Shows Signs of Recovery
Nigeria’s oil and gas sector is demonstrating recovery after years of stagnation, driven by regulatory reforms and renewed investor interest. Recent policy initiatives under the Petroleum Industry Act have unlocked investment and revived offshore projects.
International energy companies have committed billions of dollars to offshore exploration, while efforts are underway to restart domestic refineries to reduce dependence on imported fuels.
The government has also prioritized natural gas production to diversify the energy mix, improve electricity supply, and promote industrial growth.
Despite improvements, experts stress that long-term recovery depends on consistent regulation, security in oil-producing regions, and sustainable investment in technology.
Nigeria’s progress is expected to strengthen West African energy markets, reduce regional import dependency, and position the country as a central supplier of refined products in Africa.
