5/13/22, 12:59 PM Nigeria Energy Outlook – Analysis - IEA

Policy Key targets and measures

● 20% (unconditional) to 45% (conditional) reduction in GHG emissions

by 2030 compared to the business-as-usual scenario.
Performance ● Increase oil production to 2.5 mb/d and become a net exporter by
targets
2020, and end gas flaring by 2030.

● Dedicate at least 30% of the federal budget to capital expenditure.

Industrial ● Achieve GDP growth of 7% and create over 15 million jobs by 2020
development
and double manufacturing output to 20% of GDP by 2025.
targets

Key energy indicators

Nigeria primary energy demand and GDP in the Stated Policies Scenario, 2010-2040 Open

250 4000

2018
200
Bioenergy :
114 Mtoe 3200
billion dollars (2018)

150 2400

100 1600

50 800

0 0
2010 2018 2030 2040

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Coal Oil Gas Hydro Solar PV Other low-carbon Bioenergy

GDP (right axis)

Nigeria primary energy demand and GDP in the Africa Case, 2010-2040 Open

https://www.iea.org/articles/nigeria-energy-outlook 2/11