The diverging fortunes of Africa’s crude kings
Profound differences in governance style will impact the speed and development of future energy projects across Angola and Nigeria
The 2014 oil price collapse hit Nigeria and Angola hard. Successive years without final investment decisions (FIDs) left sub-Saharan Africa’s top two oil producers confronting maturing fields and declining production. In Nigeria, president Muhammadu Buhari has done little to rekindle investment since assuming office in 2015—operators now face another three years of his slow-moving administration. By contrast, Angola’s head of state, Joao Lourenco, was quick to enlist the support of oil majors after assuming power in September 2017. The countries’ trajectories will continue to diverge in 2020 as Lourenco’s reforms reap rewards and Buhari continues to dither. Regulatory reforms Key to revivin
Also in this section
14 March 2025
Gas production slumped to an eight-year low in 2024, but new discoveries and partnership with Cyprus paint a more positive outlook
13 March 2025
Gas will become a more important part of the energy mix longer-term, raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
