Nigeria's election hangs over energy sector
Africa's biggest economy is growing again. But next year's vote is stalling reform and investment in its crucial energy sector
Nigeria's economy has made a sluggish recovery over the past 12 months. After a plunge into negative growth last year, higher global oil prices are beginning to heal the wounds to state finances. The next 18 months will be fraught with political risk, but if investors are smart, they can hover over lucrative market positions and prepare to take a spending plunge when the time proves right. In oil, there'll be intense scrutiny of Total's Egina floating, production and storage offshore project over the next year. Once up and running, the FPSO will process 100,000 barrels a day of oil. But the sailing may not be easy. Militants in the Niger Delta say they may target the Egina, and analysts beli
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised