Nigeria has emerged as the leading destination for energy investments in Africa, according to a new report highlighting the impact of reforms introduced under President Bola Ahmed Tinubu.

The report, which reviews developments between 2023 and 2026, shows a dramatic turnaround in Nigeria’s energy sector. After years of declining investor confidence, the country is now attracting significant capital inflows, positioning it ahead of other major African energy producers.

One of the most striking indicators is Nigeria’s share of upstream Final Investment Decisions (FIDs), which jumped from just 4% to about 40% between 2024 and 2025. This sharp increase reflects renewed investor confidence and places Nigeria firmly at the top of Africa’s energy investment landscape.

The report credits this growth to a series of policy and regulatory reforms aimed at improving the ease of doing business in the sector. These include clearer fiscal terms, faster project approvals, and better coordination among key regulatory bodies. Together, these changes have helped reduce uncertainty and make Nigeria more attractive to global investors.

In practical terms, the results are already visible. Nigeria has secured over $10 billion in new investment commitments, particularly in offshore oil and gas projects, with a broader pipeline expected to sustain long-term growth. Oil production has also risen significantly from about 1.2 million barrels per day in 2023 to roughly 1.6 million barrels per day in 2025.

The gas sector is also seeing strong growth, with utilisation increasing by around 40% within three years. This positions gas as a key driver of industrialisation, export growth, and energy transition in Nigeria’s economy.

Additionally, improvements in local refining capacity have boosted fuel availability, helping to eliminate long-standing petrol shortages and strengthen energy security across the country.

Overall, the report paints a picture of a sector undergoing rapid transformation. By focusing on reforms and investment-friendly policies, Nigeria is not only reclaiming its position as a major energy player but also setting the pace for the rest of the continent.

In simple terms, the message is clear: Nigeria’s energy sector is back on the global radar and this time, it’s leading Africa’s investment race.