Middle East / Africa

Nigeria flag
Summary | Profile

Country profile: Nigeria

Location: Western Africa, bordering the Gulf of Guinea, between Benin and Cameroon
Climate: varies; equatorial in south, tropical in center, arid in north
Terrain: southern lowlands merge into central hills and plateaus; mountains in southeast, plains in north
Size: 923768 sq. km total (Land area: 910768 sq. km  Water area: 13000 sq.km)
Population: 138,283,240
Languages: English (official), Hausa, Yoruba, Igbo (Ibo), Fulani
Government: federal republic
Capital city: Abuja
Legal system: based on English common law, Islamic law (in 12 northern states), and traditional law; accepts compulsory ICJ jurisdiction with reservations
Currency: naira (NGN)
Licensing:

Country profile

On April 21, 2007, Nigeria held presidential elections, marking the first time in Nigeria’s history that the country passed control from one civilian government to another. During the 16 months preceding the election, militant activity in the Niger Delta (especially near Warri and Port Harcourt) has severely impacted Nigeria’s oil production potential by shutting-in an estimated 20 percent of total production.

The Nigerian economy is heavily dependent on the oil sector, which accounts for 95 percent of the country’s total export revenues. In 2004, Nigeria’s energy consumption mix was dominated by oil (58 percent), followed by natural gas (34 percent) and hydroelectricity (8 percent). Coal, nuclear and other renewables are currently not part of the country’s energy consumption mix. Between 1984-2004, the share of oil in Nigeria’s energy mix has decreased from 77 percent to 58 percent. Natural gas consumption increased from 18 percent to 34 percent. Hydroelectricity has seen a slight increase as well from 5 percent to 8 percent.

British influence and control over what would become Nigeria grew through the 19th century. A series of constitutions after World War II granted Nigeria greater autonomy; independence came in 1960. Following nearly 16 years of military rule, a new constitution was adopted in 1999, and a peaceful transition to civilian government was completed. The government continues to face the daunting task of reforming a petroleum-based economy, whose revenues have been squandered through corruption and mismanagement, and institutionalizing democracy. In addition, Nigeria continues to experience longstanding ethnic and religious tensions. Although both the 2003 and 2007 presidential elections were marred by significant irregularities and violence, Nigeria is currently experiencing its longest period of civilian rule since independence. The general elections of April 2007 marked the first civilian-to-civilian transfer of power in the country's history.

 

 

Energy production and consumption


Oil Gas
Production: 2 million bbl/day (2006 est.) 21 billion cu m (2005 est.)
Consumption: 302,000 bbl/day (2006 est.) 9 billion cu m (2005 est.)
Exports: 2 million bbl/day (2006 est.) 11 billion cu m (2005 est.)
Imports: 167,900 bbl/day (2006 est.)  
Reserves: 37 billion bbl (2007 est.) 5 trillion cu m (1 January 2006 est.)
Major fields:



Nigeria - recent news

04 Feb 25
Nigeria: Baker Hughes, NNPC/FIRST E&P JV to deploy Leucipa automated field production solution in Niger Delta
Baker Hughes has announced an agreement with NNPC Limited/FIRST E&P JV to deploy the Leucipa automated field production solution. Through this agreement, Leucipa will be implemented on the JV’s offshore operations in the Niger Delta, marking the first adoption of the system in Sub-Saharan Africa.
18 Dec 24
Nigeria: TechnipFMC awarded substantial subsea contract for Shell’s Bonga North development in Nigeria
TechnipFMC has been awarded a substantial contract by Shell Nigeria Exploration and Production Company to supply Subsea 2.0 production systems for the Bonga North development in Nigeria.
16 Dec 24
Nigeria: Shell invests in Bonga North deep-water project
Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell, has announced a final investment decision (FID) on Bonga North, a deep-water project off the coast of Nigeria. The Bonga North project involves drilling, completing, and starting up 16 wells (8 production and 8 water injection wells), modifications to the existing Bonga Main FPSO and the installation of new subsea hardware tied back to the FPSO.
02 Dec 24
Nigeria: Shelf Drilling secures an award for the Main Pass IV jack-up rig
Shelf Drilling has announced an award for the Main Pass IV jack-up rig for operations offshore Nigeria. The firm term of the contract is approximately two years. The contract is scheduled to begin in December 2024
01 Nov 24
Nigeria: Africa Oil renews Nigerian licence PML 52
Africa Oil Corp has announced that the Nigerian Upstream Petroleum Regulatory Commission ('NUPRC') has renewed Petroleum Mining Lease 52 ('PML 52'), containing the Agbami field, for a period of 20 years effective from November 24, 2024.

Nigeria - more news

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