Africa’s oil and gas sector is getting ready for a slow comeback in 2026, with Nigeria among the countries to lead the resurgence.
This was revealed in a new report titled State of African Energy 2026 Outlook by the African Energy Chamber (AEC).
The report says countries like Nigeria, Algeria, Libya, Egypt, and Angola are still leading in oil and gas production, but they are facing problems like old equipment and aging oil fields.
Meanwhile, new countries such as Ivory Coast and Namibia are now drawing investors because of recent oil discoveries.
According to the report, Africa’s total oil and gas production will stay around 11.4 million barrels per day in 2026, and may rise to 13.6 million barrels per day by 2030. North Africa will produce about 60 per cent of this, while sub-Saharan Africa will produce the rest.
The report also noted that growing feature of the African energy landscape is the increasing role of National Oil Companies (NOCs), which now account for roughly 53 per cent of total production.
By contrast, International Oil Companies contribute about 30 per cent, reflecting a shift toward resource nationalism and greater operational involvement by host governments.
It said that African countries such as Nigeria via the Nigerian National Petroleum Company (NNPC) Limited are actively expanding NOC capabilities to operate major assets independently or through joint ventures, emphasizing the need to build local expertise alongside attracting foreign investment.
Speaking on this, Mr NJ Ayuk, Executive Chairman of the African Energy Chamber, said the continent still has great potential if investors focus on new oil areas and governments make good policies.
“The African upstream sector is evolving rapidly,” he said. “Frontier and emerging basins present enormous potential, but realizing that potential requires targeted investment, innovative fiscal frameworks and partnerships that can de-risk technically complex projects.”
The report added that the next African Energy Week will hold in Cape Town from October 12 to 16, 2026, where investors, operators, and leaders will discuss how Africa can grow its energy sector and overcome challenges.