In 2023, Nigeria's gas production stood at 4.03 Billion Cubic Feet Per Day (BCFD) and is projected to rise over the next five years. By 2024, it is expected to reach 4.1 BCFD, reflecting a year-on-year increase of 1.7%. Continual growth is forecasted, with incremental rises to 4.17 BCFD in 2025 (1.7%), 4.23 BCFD in 2026 (1.4%), 4.29 BCFD in 2027 (1.4%), and 4.35 BCFD in 2028 (1.4%). Over the five-year period from 2024 to 2028, the Compound Annual Growth Rate (CAGR) is approximately 1.5%.
Future trends to watch for include shifts in global energy demand, potential policy changes in Nigeria's energy sector, technological advancements in gas extraction and processing, and geopolitical factors that may influence production and export capacity. Monitoring these variables will provide insights into the sustainability of Nigeria's gas production growth trajectory.
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