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Energy Report Nigeria

  • ID: 2766738
  • Report
  • February 2021
  • Region: Nigeria
  • 19 Pages
  • The Economist Intelligence Unit
A long-awaited Petroleum Industry Bill (PIB) is currently making its way through the National Assembly (parliament) and could conceivably become law by the end of the first quarter of 2021. The latest PIB-which is a refashioned version of a package of reforms that have been in the making for two decades-aims to transform Nigeria's underperforming oil and gas sector.

Despite its recent underperformance, the hydrocarbons sector still plays a dominant role in the Nigerian economy. In the first nine months of 2020 exports of crude oil and gas accounted for 86% of total export earnings. Oil revenue also constitutes a sizeable proportion of government income, accounting for 54% of federal government receipts in the first nine months of 2020.

The Economist Intelligence Unit forecasts that Nigeria will consume around 161m tonnes oil equivalent (toe) of energy in 2021, after demand slowly picks up in the wake of the negative impact on economic activity of the coronavirus (Covid-19) pandemic. We expect demand to increase to just over 186m toe by the end of the forecast period in 2030, representing an annual average increase of well over 1%.

Industry List: Coal, Energy, Electricity, Energy, Energy, Energy, Energy policy, Energy, Nuclear, Energy, Oil and gas, Energy, Renewables, Energy, Risk and return
Industry Codes (NAIC): 22;22;336
Industry Codes (SIC): 37;49;49
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Energy Report Nigeria

Energy report: Overview

Energy report: Energy policy

Energy report: Oil and gas

Energy report: Electricity

Energy report: Coal

Energy report: Nuclear

Energy report: Renewable energy

Energy report: Risk and return
Note: Product cover images may vary from those shown