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

21 Oct 20
Nigeria: TGS adds to offshore Nigeria data with new coring project
TGS has announced the recommencement of the geochemical coring project offshore Nigeria. The initiative is part of an anomaly targeting program focusing on the previously completed analysis of multibeam and backscatter data. This survey is being conducted in conjunction with Nigerian joint venture partner TGS-PetroData.
24 Sep 20
Nigeria: Canadian Overseas Petroleum provides update on its drilling licence extension for OPL 226
Canadian Overseas Petroleum has provided an update on its drilling licence extension for OPL 226, offshore Nigeria.
18 Sep 20
Nigeria: PGS announces availability of reprocessed 3D data for West Niger Delta
More than 3,500 sq km of new PGS broadband reprocessed MultiClient data is now available in the West Niger Delta Basin, providing a clearer image of potential targets in blocks OPL 248, 249, 250, 2011, and OML 140.
18 Sep 20
Nigeria: Zenith Energy submits bid in Nigeria's 2020 Marginal Field Round
Zenith Energy has submitted a technical and commercial bid with the Nigerian Department of Petroleum Resources for a marginal field in the 2020 Marginal Field Bid Round. The Company is participating in the Bid Round as technical and financial partner to a Nigerian registered oil and gas company.
17 Sep 20
Nigeria: ADM Energy submits bid in Nigeria's 2020 Marginal Field Round
ADM Energy has announced that it has formally submitted a bid with the Nigerian Department of Petroleum Resources for a marginal field in the 2020 Marginal Field Bid Round.

Nigeria - more news

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