The November edition of TEMPLARS Transcripts: Energy & Natural Resources Digest follows two markets deciding where value is created and how much of it stays at home.

In Nigeria, the upstream is being reshaped as international operators exit mature positions, TEMPLARS advised on two of these transactions, a new licensing round opens, and acreage that is not being developed is reclaimed. Gas access rules are being refined, power-sector debts are being settled, and the carbon market and solar safety frameworks are taking shape. A new cooperation framework with the United States widens Nigeria’s partnerships in solid minerals.

In Ghana, domestic and regional gas is replacing imported liquid fuels, and hydrocarbons once flared are being brought to market. In mining, the proposed phase-out of unprocessed mineral exports and new worker safeguards signal a firmer commitment to local processing. Renewable energy is increasingly aimed at productive use.

The two markets are also more closely connected, with Nigerian gas underpinning Ghana’s shift away from liquid fuels. In both, reform is moving into implementation, and the opportunities for investors and operators come with higher expectations on delivery, local participation and compliance.