Senegal’s Economy Accelerates in 2025 as Oil and Gas Production Boost Growth

Senegal recorded one of West Africa’s strongest economic performances in 2025, driven by the start of oil and gas production, rising public and private investment, and expansion across key sectors of the economy.

According to Senegal’s Ministry of Economy, Planning and Cooperation, the country’s economy grew by 6.7% in 2025, compared with 6.5% in 2024, supported largely by the contribution of the hydrocarbons sector. The increase marks a major shift as Senegal begins to benefit from its newly developed energy resources.

The ECOWAS Bank for Investment and Development (EBID) projects even stronger momentum, estimating that Senegal’s economic growth could reach around 8.7% in 2025, driven by the expansion of oil and gas activities, alongside growth in mining, infrastructure and other productive sectors.

The acceleration comes after the launch of major energy projects, including the Sangomar offshore oil field, located off Senegal’s Atlantic coast. The project is expected to reach production capacity of around 100,000 barrels of oil per day at full operation. In 2024, Sangomar produced approximately 16.9 million barrels of crude oil, exceeding its initial production target.

In the gas sector, the Grand Tortue Ahmeyim (GTA) liquefied natural gas project, developed jointly by Senegal and Mauritania, represents another major milestone. The project is expected to position Senegal as an emerging player in the regional gas market and create new opportunities for industrial development.

The impact of hydrocarbons has already been reflected in Senegal’s external trade performance. The country’s goods exports increased by 52.7% in 2025, supported by higher energy exports, while the trade deficit improved from 12.2% of GDP in 2024 to 3.7% of GDP in 2025.

Despite the positive outlook, Senegal faces challenges linked to managing its new resource revenues, maintaining fiscal sustainability, controlling public debt and implementing structural reforms to ensure long-term and inclusive growth.

The government plans to use revenues from oil and gas production to finance infrastructure development, strengthen human capital and promote higher-value industries in order to diversify the economy beyond natural resources.

With its growing energy sector, strategic Atlantic position and ambitious development agenda, Senegal is emerging as one of West Africa’s fastest-growing economies and a potential investment hub for international investors.