In 2023, Nigeria's gas production stood at 1.51 Exajoules. Moving forward, the forecasted production values are 1.53 Exajoules in 2024, 1.55 Exajoules in 2025, 1.57 Exajoules in 2026, 1.60 Exajoules in 2027, and 1.62 Exajoules in 2028. This data suggests the following year-on-year variations:
- From 2023 to 2024: 1.3% increase
- From 2024 to 2025: 1.3% increase
- From 2025 to 2026: 1.3% increase
- From 2026 to 2027: 1.9% increase
- From 2027 to 2028: 1.3% increase
Looking at the longer-term trend, the Compound Annual Growth Rate (CAGR) from 2024 to 2028 stands at approximately 1.6%, indicating a steady growth pattern in gas production over this period.
Future trends to watch for include potential impacts from global energy demand shifts, advancements in extraction technologies, and regulatory changes within Nigeria's energy sector. An increase in investment in liquefied natural gas (LNG) infrastructure would also be a significant factor influencing production volumes.
