Nigeria
Africa's largest refining and LNG build-out
Overview
Nigeria pairs long-established upstream oil and gas with the continent's largest single-train refinery and the NLNG expansion, under a post-Petroleum Industry Act regulatory framework.
Policy
Upstream licensing is administered by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) under the Petroleum Industry Act 2021.
Key data
- Region
- West Africa
- Capital
- Abuja
- Currency
- NGN
- ISO3
- NGA
Market records
Country at a glance
Economy & macroeconomics
Energy intelligence
As of 2023
International Energy Agency · 2023- Natural gas76%
- Hydro22%
- Solar2%
Project pipeline
- 1Construction
- 1Operating
Risk & due diligence
- BFitch RatingsStable · 2025
- B3Moody's RatingsPositive · 2025
Currency and inflation
Likelihood 3/3 · Impact 3/3
Naira volatility and high inflation weigh on project cost bases and local-currency revenue.
Upstream security
Likelihood 2/3 · Impact 3/3
Pipeline losses and onshore security continue to shape divestment and production decisions.
Governance & legal framework
Regulates upstream petroleum operations and licensing rounds.
Regulates processing, transport and distribution of petroleum.
- Nigerian Investment Promotion CommissionInvestment promotion
Registers foreign investment and issues incentive certificates.
Law · petroleum · Federal Republic of Nigeria
Law · content · NCDMB
Outlook
- Dangote refinery ramp-up
- Crude supply arrangements
Nexus treats domestic refining ramp-up as the single largest variable in West African product trade flows.
Drivers are sourced; the reading is Nexus analysis, not a forecast.
U.S. Energy Information Administration ·Related projects
Dangote Petroleum Refinery
Africa's largest single-train refinery, designed to reposition Nigeria from fuel importer to regional refined product supplier.
- Capacity
- 650,000 barrels per day (design)
- Status
- Operating and ramping up product output
NLNG Train 7
Expansion of the Bonny Island liquefaction plant, adding a seventh train to Nigeria's flagship LNG export facility.
- Capacity
- Expansion of Bonny plant capacity by approx. 35%
- Status
- Under construction
Business opportunities
Explore by commodity
Natural Gas & LNG
Africa's gas story runs through the Rovuma Basin, Nigeria, Egypt and Algeria, and is increasingly evaluated on liquefaction capacity rather than reserves.
Crude Oil
Nigeria, Angola, Libya and Algeria remain the largest African producers, with Namibia the most-watched frontier.
Related companies
oil gasTotalEnergies
Courbevoie, France
Operator of the Mozambique LNG onshore project in Area 1 and a large upstream portfolio across Africa, alongside renewables investments.
oil gasEni
Rome, Italy
Delivered Coral South, Africa's first deepwater floating LNG facility, and operates major gas assets including Zohr in Egypt.
oil gasDangote Industries
Lagos, Nigeria
Owner of the Dangote Petroleum Refinery in Lekki, Nigeria — the largest single-train refinery in Africa.
lngNigeria LNG Limited
Bonny Island, Nigeria
Operator of the Bonny Island LNG plant, with Train 7 adding liquefaction capacity to the existing six trains.
Related industries
Oil & Gas
Exploration, development, production, processing and refining of crude oil and natural gas.
LNG
Liquefaction, floating LNG, shipping and regasification of natural gas for export markets.
Power
Generation, transmission and distribution, including hydro, gas, coal and nuclear capacity.
Metals & Industrial
Smelting, refining, alumina and aluminium production, steel, coke and downstream industrial manufacturing.
Infrastructure
People
Related news
Dangote refinery ramp-up reshapes West African product flows
As output climbs toward design capacity, regional gasoline and diesel import patterns are being reassessed.
Government reaffirms sovereign guarantee to Mozambique LNG creditors
Mozambique's government has reaffirmed its sovereign guarantee to the lenders financing the Mozambique LNG project, as reported by Club of Mozambique.
Dangote takes 25% stake in Kenya's oil pipeline network, plans $1.5bn expansion
Aliko Dangote told the FT Africa summit in London that his company has taken a 25% stake in Kenya's pipeline network and plans to invest $1.5bn to expand it.
Eni to drill up to six wells offshore Mozambique for Coral North; third FLNG pursued
Reuters, via CNBC Africa, reports Eni plans to drill up to six wells for the Coral North project and is pursuing a third floating LNG unit in Mozambique.
TotalEnergies completes entry as operator of Namibia's PEL83, holding Mopane
TotalEnergies now holds a 40% operated interest in PEL83 alongside Galp (40%), Namcor (10%) and Custos (10%), after completing its December 2025 transaction with Galp.
Mozambique LNG works advance at Afungi as contractors remobilise
Operator communications point to renewed onshore activity on the Afungi site. Confirm scope, schedule and workforce figures directly with the operator.
Orange Basin appraisal keeps Namibia at the centre of frontier exploration
Appraisal outcomes and development concepts will determine whether discoveries convert into commercial projects.
Related intelligence
African liquefaction capacity: what is actually under construction
Separating announced capacity from sanctioned, financed and physically progressing capacity across Nigeria, Mozambique and Egypt.
From molecules to metal: can Mozambique convert gas into industry?
Mozambique's strategic question is not whether it can export LNG, but whether any of those molecules become domestic industrial capacity.
Country intelligence: Mozambique resource economy
Gas, graphite, coal, heavy sands and aluminium in one economy — and the infrastructure that determines whether they connect.
- Dangote Industries
Dangote Petroleum Refinery
Last verified 26 Aug 2026Verified - Nigerian Upstream Petroleum Regulatory Commission
Licensing round information
Last verified 26 Aug 2026Partially verified - Nigeria LNG Limited
NLNG Train 7 project
Last verified 26 Aug 2026Verified
Every factual record carries its source organisation, link and verification status. Where a value cannot be verified from a primary public source, Nexus records it as not available.