Nigeria Rumblings on the Ground | Is Nigeria’s upstream sector entering a new growth cycle?
February 24, 2026
Nigeria upstream and NNPC reforms are in focus for Welligence. The team recently visited Lagos and the Nigeria International Energy Summit in Abuja. We met key oil and gas stakeholders to gauge the upstream climate and outlook for the country.
The note examines how NNPC’s portfolio rationalisation and asset sales underpin its strategy ahead of a potential IPO. It also reviews how Nigerian independents balance deleveraging with growth across their upstream portfolios. Domestic gas, LNG and deepwater projects, including ANOH, NLNG Train 7 and new pre-FID developments, support medium term upside.