Election posters of the APC presidential candidate Bola Ahmed Tinubu
Nigeria heads for crucial elections
The country’s next president faces an uphill battle to revive the struggling oil and gas sector
Recent years have not been kind to Nigeria’s oil industry. New investment has slowed to a trickle amid a seemingly never-ending struggle with pipeline vandalism and oil theft. International players have largely divested onshore assets, preferring the relative safety of offshore fields. Production fell below 1mn bl/d last August, its lowest level for over 30 years. President Muhammadu Buhari has been unable to halt the industry’s decline during his eight years in power, although he did secure the passage of major regulatory reforms in 2021. The 80-year-old Buhari is now preparing for retirement; Nigerians will go to the polls to elect his successor on 25 February. The leading candidates inclu
Also in this section
6 December 2023
The threat of a big disruption to energy trade in the Middle East appears to be receding, but the fog of war is casting doubt on projects in the region
5 December 2023
Scepticism, confusion and disdain over OPEC+’s extended and deeper supply cuts should give way to an appreciation of the new multi-speed producer alliance
5 December 2023
Low debts levels and the advantages of larger companies among the reasons for the rise in activity
