Ivory Coast, the world’s biggest cocoa producer, is aiming to become one of Africa’s top five oil economies by 2035 as it ramps up crude and gas output to diversify its revenue base, senior officials said.
The energy ministry projects crude production could climb to at least 500,000 barrels per day and natural-gas output to 1 million cubic feet per day by 2035, according to estimates cited by Bloomberg. The push marks a strategic shift for an economy long dominated by cocoa exports.
Planning and Development Minister Kaba Nialé said oil output is expected to rise to at least 200,000 barrels per day by 2027/2028m, a jump that could accelerate annual economic growth to 7.2 percent by 2030, up from an average of 6.5 percent between 2021 and 2025.
“We can achieve a much stronger growth rate in the coming five years,” Nialé told the African Development Bank during a conference in Rabat on Wednesday.
The government’s energy ambitions have drawn interest from major global players including Eni, Vaalco Energy and Petrobras, reflecting growing confidence in its pro-investment policies. Patrick Achi, minister of state and adviser to President Alassane Ouattara, called the shift a “paradigm” change rooted in deeper collaboration with the private sector.
Officials say expanding the hydrocarbons sector is central to Ivory Coast’s plan to build a more resilient and diversified economy, reducing exposure to volatile cocoa prices while unlocking new long-term growth drivers.
