Market Size of Nigeria Oil And Gas Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 4.60 Billion cubic feet per day |
| Market Volume (2029) | 4.93 Billion cubic feet per day |
| CAGR (2024 - 2029) | 1.39 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Nigeria Oil and Gas Market Analysis
The Nigeria Oil And Gas Market size in terms of production volume is expected to grow from 4.60 Billion cubic feet per day in 2024 to 4.93 Billion cubic feet per day by 2029, at a CAGR of 1.39% during the forecast period (2024-2029).
- Over the medium term, the abundant oil and gas reserves coupled with increasing foreign investment in the oil and gas sector in the country are expected to drive the market.
- On the other hand, vandalization and threats by militants on oil and gas infrastructures and increasing volatility in crude oil and gas prices are expected to hinder the market's growth during the forecasted period.
- Nevertheless, increasing developments in the country's downstream sector are expected to create significant opportunities for the market players during the forecasted period.
