Hope for Nigeria as Africa awaits 428 new oil, gas projects

Hope for Nigeria as Africa awaits 428 new oil, gas projectsOver 428 oil and gas projects are expected to be developed in Africa’s oil and gas sector before 2025, a new report said yesterday.

Nigeria, regarded as one of the biggest crude oil producers on the continent according to the report, conducted by a leading research body, GlobaData, is to receive over 23 per cent of the total projects to start operations from 2021 to 2025.

The report titled ‘Africa Oil and Gas Projects Outlook to 2025 – Development Stage, Capacity, Capex and Contractor Details of All New Build and Expansion Projects’ showed that Africa 428 oil and gas projects would commence operations in the period.

It noted that about 40 per cent of the projects are in the planning stages while the rest have been approved or awaiting approvals.

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