Nigeria 🇳🇬 has discovered oil again
Nigeria has confirmed a significant hydrocarbon discovery at the Awodi-07 well, reinforcing its position as Africa’s leading oil producer.
The discovery revealed multiple hydrocarbon reservoirs, prompting further exploration by the NNPC Limited–Chevron Nigeria Limited joint venture, a move expected to strengthen reserves and future output.
After years of setbacks from oil theft and vandalism, Nigeria’s production is steadily rebounding, now averaging 1.7–1.8 million barrels per day.
What sets Nigeria apart is its holistic energy strategy—simultaneously boosting crude production while expanding local refining capacity, a combination that enhances energy security and economic value across the sector.