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The Nigeria Energy Quarterly Report – Q1 2026 provides an overview of key developments across Nigeria’s oil and gas, power and mining sectors between January and March 2026. The oil and gas sector recorded significant commercial and regulatory activities across the upstream, midstream, and downstream segments. Notable developments included the pre-qualification process for the 2025 NUPRC Bid Round, major presidential directives impacting sector governance, and renewed momentum in deepwater investment, including approval of the USD 20 billion Bonga Deepwater project by NNPC Limited. The period also saw resolution of long-standing industry disputes and the landmark OPL 245 settlement, alongside strategic equity movements such as Heirs Energies’ acquisition of a 20% stake in Seplat Energy.
19 May 26
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In the power sector, restructuring efforts continued as state-level electricity markets began to take clearer shape, supported by regulatory reforms and legislative amendments aimed at deepening private sector participation and unlocking investment across the value chain.
The mining sector also witnessed increased momentum, driven by renewed government focus and strategic acquisitions of mineral assets by international mining companies, reinforcing Nigeria’s diversification agenda.
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