The Nigerien oil sector is experiencing impressive growth. Revenue from the sector exceeded 200 billion FCFA in 2024, compared to 64.1 billion FCFA in 2020, the Minister of Petroleum, Dr. Sahabi Oumarou, revealed during a television interview on February 24.
The Minister underlined the crucial role of oil in the economic resilience of Niger after the military takeover in July 2023, as well as its impact on regional integration thanks to gas agreements with other African countries.
Oil revenue now represents 204 billion FCFA, a share of 2.86% of the national budget, compared to 64.1 billion in 2020.
The prospects for the future are deemed good by the minister. The petroleum sector has also generated direct jobs, with 409 Nigerièns employed by the China National Petroleum Corporation (CNPC), a major oil company that operates in Niger, including building the Niger-Benin oil pipeline, 442 by the Soraz refinery and 85 by the West African Gas Pipeline Company Limited (WAPCo), not to mention indirect jobs among subcontractors.
The Minister recalled the roadmap fixed by the Head of State, focused on strengthening the supervision of oil and gas resources, the attraction of investments and the implementation of a performance evaluation system
This growth had been predicted by several major financial institutions. The World Bank had projected that Niger’s oil production would reach 11.2 million barrels in 2024, which would lead to a 5.7% economic growth rate. The African Development Bank Group projected that Niger’s crude oil production would increase five-fold to about 100,000 barrels per day. The IMF projected that Niger’s GDP will grow by 8.8% in 2024 due to oil production, predicting that the country’s economic growth would remain strong at 7.9% in 2025.
