NGNigeria has maintained its status as a leading destination for oil and gas investments in Africa, despite a notable decrease in upstream capital inflows to the continent. According to the International Energy Agency's 2026 World Energy Investment Report, Nigeria, along with Algeria, Angola, Egypt, and Libya, accounts for 70% of Africa's upstream investment and 80% of its crude oil and gas production. However, the report highlights a significant decline in upstream investment across Africa, dropping from $68 billion in 2016 to $37 billion in 2025—a reduction of approximately 46%. While established producers like Nigeria have seen a substantial loss of investment, emerging producers such as Mozambique, Namibia, Senegal, and Uganda have attracted significantly more investment, with funds increasing from $1.5 billion in 2016 to $5 billion in 2025. Despite the overall decline, exploration activities remain strong, with capital expenditures reaching nearly $6.5 billion in 2025.
Bias read (Center): The article presents data from the International Energy Agency regarding investment trends in the oil and gas sector across Africa. It provides a balanced overview of both the decline in investment in established producers and the rise in investment in emerging producers, without showing clear favor
