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ARTICLE · 28 OCTOBER 2025

Energy Insights – The Quarterly (Q3)

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The third quarter of 2025 marked a defining period for Nigeria's energy sector, underscored by regulatory assertiveness, upstream transactions, and progress in the energy transition.

NigeriaEnergy and Natural Resources
Stren & Blan Partners
Stren & Blan Partners

The third quarter of 2025 marked a defining period for Nigeria's energy sector, underscored by regulatory assertiveness, upstream transactions, and progress in the energy transition. Most notably, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) approved TotalEnergies' $510 million divestment of its 12.5 per cent stake in the Bonga field to Shell and Agip, while revoking its earlier approval of an $860 million deal with Chappal Energies for noncompliance. Nigeria also signed a production sharing contract with TotalEnergies and Sapetro for two offshore blocks awarded in 2024 under the Petroleum Industry Act, with a strong focus on gas development.

Earlier in the quarter, crude oil production rose nearly 10 per cent year on year in July, reinforcing signs of recovery in upstream operations. In the power sector, the Nigerian Electricity Regulatory Commission (NERC) advanced key reforms to strengthen efficiency and grid stability, while the National

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