• $15 billion investment planned over five years to expand oil and gas operations
• Company aims to double gas output from 150 to 300 mmscf/d
• 32 projects to be rolled out, including 22 focused on gas exports
Renaissance Africa Energy, which recently acquired assets formerly operated by Shell, plans to expand its presence in Nigeria’s oil and gas industry with a $15 billion investment over five years.
The company formalized this investment plan on May 22, on the sidelines of the Nigerian Oil & Gas Opportunity Fair (NOGOF). The funds will support hydrocarbon activities in the Niger Delta, where a significant portion of Nigeria’s oil infrastructure is located.
According to company representatives, Renaissance will implement 32 projects under the plan, 22 of which are focused on boosting gas export capacity. A key goal is to double its gas production from the current level of 150 million standard cubic feet per day (mmscf/d) to 300 mmscf/d.
“At present, our gas production is 150 million standard cubic feet per day, and we forecast reaching 300 mmscf/d with the planned increase in the AKK (Ajaokuta-Kaduna-Kano) pipeline activity, which should further increase domestic gas usage,” said Greg Akhibi, Supply Chain Director at Renaissance Africa Energy.
The investment aligns with the company’s broader strategy to rebalance its portfolio by strengthening oil production and accelerating gas monetization while reinforcing its position in export markets.
Project execution will depend on Renaissance’s ability to operate effectively in a challenging environment. The company continues to face security and environmental risks, including three oil spill incidents recorded in May 2025 alone.
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• The U.S. imposed a 20% tariff on cashew exports from Vietnam and a 40% tax on suspected transshipments.• Vietnam supplies 90% of U.S. cashew imports and...
As work on the first phase of the Ahmed Sékou Touré International Airport expansion continues, Guinean authorities have announced their intention to move...
• Senegal raised $2.25 billion regionally in H1 2025 after IMF funding froze over $7 billion in hidden debt• Public debt hit 119% of GDP;...
• Nigerian household debt reached a record \.7 billion in April 2025, 20.4% of GDP, surpassing corporate debt• Inflation (23%) and low incomes are...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...