Nigeria's Niger Delta is a world-class petroleum province where over 93 billion barrels of oil and gas have been discovered in the last six decades. Since 2008, appetite for high-risk exploration declined because of proposed legislation that would increase government share. As a result, drilling levels declined, particularly in deep and ultra-deepwater where significant fiscal/licence term changes could materially impact economics. Onshore, oil theft, vandalism and labour disputes continue to plague operators. Despite significant challenges, the Niger Delta remains the most attractive basin in the region, with significant yet-to-find potential and opportunity for value creation. The greatest value creation will be realised in the deepwater, where YTF volumes are the greatest. We review results from recent exploration and analyse the YTF potential and economics of future exploration activity. All analysis, results and forecast metrics are available to download in pdf and excel format.