Tag: Petroleum Industry Act
Nigeria Unlocks $18.2bn in Oil Investments with 28 New Field Plans
Ryno Ellis
8 May 2026
Nigeria approved 28 new oil field plans worth $18.2bn in 2025, adding 591k barrels/day capacity. Driven by the PIA 2021 reforms, the sector sees rig counts rise from 8 to 43, cementing its status as Africa's top energy investment hub.