Renaissance Africa has unveiled a major expansion initiative, committing $15 billion toward Nigeria’s oil and gas sector over the next five years. The plan focuses primarily on hydrocarbon operations in the Niger Delta, with 32 projects in the pipeline—22 of which are dedicated to enhancing gas export infrastructure.
The company aims to more than double its current gas output, raising production from 4 million cubic meters per day (1.5 billion cubic meters per year) to 8.5 million cubic meters daily (3.1 billion cubic meters per year).
This move aligns with Renaissance Africa’s long-term strategy to optimize its energy portfolio—balancing increased oil production with accelerated monetization of gas assets—while strengthening its footprint in global export markets.
A key step in this strategy was completed in March 2025, when Renaissance Africa finalized its $2.4 billion acquisition of Shell’s Nigerian operations, specifically the Shell Petroleum Development Company of Nigeria (SPDC). The deal includes Shell’s onshore and shallow-water holdings, positioning Renaissance to play a more prominent role in Nigeria’s upstream energy industry.
With 5 billion tonnes of crude oil and approximately 5,910 billion cubic meters of proven gas reserves as of the end of 2023, Nigeria remains a strategic hub for energy investment in Africa.
