Niger's oil sector has made significant contributions to economy: Official

31 Octobre 2020

Niamey, Niger, October 31 (Infosplusgabon) - Since 2011, Niger has earned 818 billion FCFA in revenue from the oil sector.

This is in addition to 117 billion FCFA of "societal achievements", the Nigerien Press Agency (ANP) reported on Saturday, quoting the Director General of Hydrocarbons at the Oil Ministry, Boubé Hamani.

In a presentation to the session of the Economic, Social and Cultural Council (CESOC), Hamani said that the oil sector has contributed largely to the development of the Nigerien economy, representing 4% of GDP, 19% of tax revenues and 5% of formal salaried jobs in Niger.

On the basis of projections, by 2022, under the new phase of oil exploitation, oil will be the main lever of the economy, contributing 24% to GDP, 45% of tax revenues, 68% of exports and 8% to 12% of formal salaried jobs in Niger, he said.

In terms of "societal actions", the three operators in the sector, namely the Chinese group CNPC, the British Savannah Petroleum and the Algerian SIPEX Niger, have injected some 117 billion CFA francs in various infrastructures, including the road from Diffa-Unity-Chad border.

Since 2011, Niger has been producing some 20,000 barrels/day in the Agadem Basin in the northeast under a production sharing contract with a Chinese group.

By 2021, it is expected that production will be quintupled under an exclusive exploitation authorization for which some CFAF 4,000 billion will be invested.

Oil reserves in Niger are estimated at about 3.984 billion barrels, according to June 2018 data from the Ministry of Petroleum.

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