In 2023, Nigeria's natural gas rents constituted 0.85% of GDP. Forecasted data indicates a steady increase in natural gas rents from 2024 to 2028, with values rising from 0.86% to 0.92% of GDP. The year-on-year variations show moderate positive increments, signaling sustained growth in this sector. Over the last two years, year-on-year increases were 1.18% and 1.15%, respectively. The Compound Annual Growth Rate (CAGR) over the five-year forecasted period from 2024 to 2028 is approximately 1.7%.
Future trends to watch for include potential fluctuations in global natural gas prices, changes in domestic energy policies, and advancements in extraction and production technologies, all of which could impact the natural gas rents in Nigeria. Additionally, environmental regulations and international climate agreements could also play a significant role in shaping the future trajectory of this sector.