Ivory Coast, the world’s top cocoa producer, is now setting its sights on becoming a major player in Africa’s oil industry.
- Ivory Coast aims to become a major oil producer in Africa by expanding crude and natural gas outputs by 2035.
- The energy sector initiative seeks to diversify the country’s economy beyond its reliance on cocoa exports.
- Projected increases in oil production could enhance economic growth, fostering new industrial opportunities.
- Global energy companies have shown interest in Ivory Coast’s pro-investment policies, supporting its energy ambitions.
Ivory Coast, the world’s leading cocoa producer, is now setting its sights on becoming a major force in Africa’s oil sector.
The country’s energy ministry forecasts that by 2035, Ivory Coast could rank among the continent’s top five oil producers, with crude output expected to reach at least 500,000 barrels per day and natural gas production hitting 1 million cubic feet per day according to Bloomberg.
This ambitious energy push forms part of a broader national strategy to diversify revenue streams and reduce reliance on cocoa exports, which have traditionally dominated the economy.
Planning and Development Minister Kaba Nialé highlighted that a “strong increase” in fossil-fuel production could raise oil output to at least 200,000 barrels per day by 2027–2028, potentially accelerating economic growth to 7.2% by 2030 from an average of 6.5% between 2021 and 2025.
During an interview with the African Development Bank at a conference in Rabat, Morocco, on Wednesday, Nialé said, “We can achieve a much stronger growth rate in the coming five years.”
She added that a “strong increase” in fossil-fuel production is expected to raise oil output to at least 200,000 barrels per day by 2027–2028.
The move has attracted major global energy players, including Eni SpA, Houston-based Vaalco Energy Inc., and Brazil’s Petrobras, reflecting confidence in the country’s pro-investment policy.
Patrick Achi, minister of state and special adviser to President Alassane Ouattara, described the government’s approach as a “paradigm shift,” emphasizing collaboration with the private sector to unlock long-term growth.
Africa’s Push for Energy Independence and Revenue Diversification
Ivory Coast’s drive to elevate oil production fits into a broader continental trend: African countries are working to expand domestic refining and upstream capacity to reduce dependence on imported fuels and volatile commodity cycles.
Nations such as Nigeria, Angola, Namibia, and Senegal are similarly scaling up oil and gas projects to strengthen energy security and retain more value on the continent.
For Ivory Coast, the pivot toward hydrocarbons marks a strategic effort to diversify beyond cocoa, where it is the world’s largest producer. The government sees the energy sector as a catalyst for long-term stability, new industrial opportunities, and insulation from agricultural price swings.
The country’s energy ministry forecasts that by 2035, Ivory Coast could rank among Africa’s top five oil producers, with crude output expected to reach at least 500,000 barrels per day and natural-gas production hitting 1 million cubic feet per day.
This expanding energy frontier supported by private investment and a pro-development policy approach highlights Ivory Coast’s ambition not only to grow faster, but to secure a more resilient and diversified economic future.
