By Godwin Anyebe
Nigeria has been projected to account for about 24 per cent of the total projects starting up in Africa by 2026, with more than 100 oil and gas projects expected to commence in Nigeria during the forecast period.
According to reports shared by GlobalData, among the upcoming refinery projects in Nigeria, the Dangote Refinery, the largest individual refinery in Africa which is expected to kick off operations this year, is a key project with a total capacity of 650 thousand barrels per day, DailyTimes gathered.
Commenting on the data, oil & gas analyst at GlobalData, Teja Pappoppula said: “Nigeria is mainly investing in oil & gas production, storage, and refinery projects over the next five years. These upcoming projects would boost Nigeria’s economy and help the country to transform from an importer to an exporter of refined products, especially to neighbouring countries.”
“Midstream projects account for around 28 per cent of all oil and gas projects in Nigeria by 2026. Gas processing projects constitute the bulk of upcoming midstream projects with ANOH-Seplat, ANOH-SPDC, and Brass being the key projects with a capacity of 300 million cubic feet per day each.
“The country is also making significant investments in natural gas processing, pipelines, and liquefaction projects to reduce its dependence on oil, which currently drives the majority of revenue in the country.”
With Nigeria leading the upcoming projects’ landscape, and Egypt following closely behind, other countries in the African oil and gas projects market include Algeria, Angola, Ghana, Morocco, South Africa, Mozambique, Libya, Tunisia, Uganda, Congo Republic, Tanzania, Equatorial Guinea, Cameroon, Senegal, Cote d’Ivoire, Kenya, Niger, Ethiopia, Gabon, Guinea, Botswana, Zimbabwe, Mauritania, Chad, Sudan, Djibouti, South Sudan, Benin, Namibia, Madagascar, Liberia, Rwanda, Sierra Leone, and Somalia.
Key sectors in the African oil and gas projects market are upstream (fields), midstream, downstream (refineries), and petrochemicals. Midstream has the highest number of projects followed by upstream.