Nigeria remained Africa’s top oil producer in 2024, contributing over 22% of the continent's production

  • Nigeria led with 78.9 Mtoe, accounting for over 22% of Africa’s total oil output.
  • Algeria (59.3 Mtoe) and Angola (57.4 Mtoe) followed closely; the three top producers together supplied] 56% of the continent’s oil.
  • Africa’s total oil production was 345.5 Mtoe, just 7.6% of the global total (4,542.7 Mtoe).
  • The top 5 producers accounted for over 80% of Africa’s oil.

In 2024, Africa’s oil production was dominated by a small number of countries, with Nigeria at the forefront. This concentration means shifts in output from just a few nations could significantly sway Africa’s overall energy balance.

Despite contributing less than 8% to global supply, oil is a lifeline for export earnings and government revenue in many African economies. While the global push for renewables intensifies, Africa’s oil-producing giants continue to leverage their reserves to maintain economic stability and geopolitical influence.

Source:

Energy Institute Statistical Review of World Energy

Period:

2024
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