The Nigerian energy sector will witness significant developments in the first quarter (Q1) of 2025, a new report by the Society of Energy Editors (SEE) has revealed.
The report noted that these developments would be driven by President Bola Tinubu’s proposed N49.7 trillion budget for the year.
The budget, which is anchored on 2.06 million barrels per day crude oil production target, is expected to drive down inflation from 34.6 per cent to 15 per cent during the year under review.
In its, “Nigeria Energy Outlook Q1 2025,” SEE highlighted key areas to watch in the energy sector in the first quarter of the year to include oil oil exploration and production; domestic crude refining; gas production and liquefied natural gas (LNG) export; power generation and transmission as well as labour relations.
“The government’s target to increase crude oil production is ambitious, but its feasibility hinges on addressing security challenges, particularly in the Niger Delta region.”
