Nigeria Requires $25bn Investment To Achieve 4m Barrels Daily Oil Production

A reconstructed energy transition agenda and annual investment of about $25 billion would help address Nigeria’s energy woes and support the country’s efforts to realise 4 million barrels daily oil production.

Avuru stated that Nigeria will need about $25 billion of annual investment in the next ten years if it is committed to achieving crude oil output of 4 million barrels per day and 3 billion cubic feet per day of domestic gas production. He explained that the energy transition agenda is a lot more serious than an issue that has to do with carbon emissions in the country. To him, “Carbon emissions reduction has been the key factor that all the energy transition argument has been hinged on.

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