PUBLICATION

Oil and Gas Investor

AUTHORS

Christopher Hindle, Daniella Woldemichael

Nigeria Oil & Gas 2009 OGI Release

January 05, 2009

Few countries have suffered “the curse of the black gold” as much as Nigeria. Corruption and poverty across the nation and violence in the country’s main producing area, the Niger Delta, have cast a shadow over this, Africa’s most populous nation. Yet, many in the country’s oil and gas industry maintain that there is huge opportunity for both the nation and its operators in a sector undergoing slow, but steady, transformation. This special report looks at the state of Nigeria’s oil and gas industry and the promise it holds.

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MACIG 2025 - Mining in Africa Country Investment Guide

It is said that mining is a patient industry. Current demand projections are not. Demand for minerals deemed ‘critical’ is set to increase almost fourfold by 2030, according to the UN. Demand for nickel, cobalt and lithium is predicted to double, triple and rise ten-fold, respectively, between 2022 and 2050. The world will need to mine more copper between 2018 and 2050 than it has mined throughout history. 2050 is also the deadline to curb emissions before reaching a point of ‘no return.’ The pace of mineral demand and the consequences of not meeting it force the industry to act fast and take more risks. Mining cannot afford to be a patient industry anymore. The scramble for supply drives miners back to geological credentials, and therefore to places like the African Central Copperbelt.

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