West Africa oil and gas market demonstrates strong growth; Nigeria, Ghana accounts for 80% – Deloitte

West Africa oil and gas market demonstrates strong growth; Nigeria, Ghana accounts for 80% – Deloitte

The West Africa oil and gas market is demonstrating strong growth potential, driven by global energy demand and rich reserves in the region, the 2025 West Africa Oil and Gas Outlook by Deloitte has revealed.

According to the report, the West African oil and gas market represents a Compound Annual

Growth Rate (CAGR) of 6.5% from 2025 to 2033.

This is worth approximately US$80 million. Nigeria and Ghana account for approximately 60% and 20% of that value, respectively.

The oil and gas sector in sub-Saharan Africa is facing a decisive inflection point. From Nigeria’s hydrocarbon-rich delta to Angola’s offshore blocks, to the enormous gas reserves in the East Africa rift valley, the continent is recalibrating its approach to energy equity, security and sustainability.

“In terms of crude oil production in Africa, Nigeria remains the top producer, producing around 1.5 million barrels per day (bpd) at the end of 2024, with Angola close behind at 1.1 million barrels per day”.

Nigerian recorded 1.5 million barrels per day at the end of 2024. Angola followed with 1.4 million barrels per day.

“These volumes underscore the strategic relevance of the region to Africa’s energy outlook, but they also mask deeper complexities facing operators and policymakers”, the report stressed.

The report was on the topic “Shaping Opportunity from Complexity in West Africa’s Oil and Gas Market”.

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