Gabon Bets Its Economy on Life Beyond Oil

GABON · ECONOMY

Key Facts

—Growth ambition: Gabon is targeting non-oil growth of 9.2% in 2026 and overall growth near 7.9%, up from 3.4% in 2024, per official forecasts.

—Oil in decline: Crude output is expected to contract about 3% in 2026, underlining the urgency of diversification.

—New engine: Construction and public works, which grew 48% in 2024, are projected to expand more than 78% in 2026.

—Gas bet: A liquefied natural gas plant in Port-Gentil, a 560 billion CFA franc project led by Perenco and the Gabon Oil Company, is due in 2026.

—Politics: President Clotaire Oligui Nguema, who led the August 2023 coup, was confirmed in April 2025 elections, restoring constitutional rule.

—Mineral edge: Gabon is one of the world’s largest manganese producers, a resource it wants to process rather than just export.

The Gabon economy is racing to reinvent itself beyond crude, betting on construction, gas and mining to drive growth in 2026 as oil output slips and a government elected after a 2023 coup settles in.

Why the Gabon economy needs a new model

For decades, oil has paid Gabon’s bills, accounting for the bulk of exports and government revenue.

But the fields are maturing, and crude output is set to fall again in 2026, squeezing the budget.

That is forcing Libreville to find growth somewhere other than the wellhead.

Oil still earns most of the country’s foreign exchange, so the transition has to be managed without crashing public finances.

A construction-led growth push

The clearest sign of the shift is a building boom, with construction and public works emerging as the main engine of expansion.

The sector grew 48% in 2024 and is projected to surge more than 78% in 2026, according to official forecasts.

Roads, housing and public works are meant to create jobs that oil, a capital-heavy business, never did.

The bet is that better infrastructure will also lower costs for farmers, miners and manufacturers across the country.

Turning gas into power and exports

Gabon is also trying to make more of the gas produced alongside its oil, rather than flaring or wasting it.

A liquefied natural gas plant in Port-Gentil, a 560 billion CFA franc investment led by Perenco and the Gabon Oil Company, is due to come on stream in 2026.

The project is designed to supply domestic power and open a new export line.

Reliable electricity is itself a brake on industry in Gabon, so cheaper power could unlock other sectors.

Mining as the next frontier

Beyond hydrocarbons, Gabon holds some of the world’s richest manganese deposits, a metal used in steel and batteries.

The government wants to process more of that ore at home, capturing value that has long flowed abroad.

It is the same logic driving resource policy across much of the continent.

Done well, local processing keeps jobs and tax revenue at home instead of exporting them with the raw ore.

A new government, an old challenge

The diversification drive is unfolding under a leadership that took power by force before seeking the ballot box.

President Clotaire Oligui Nguema, who led the August 2023 coup, was confirmed in April 2025 elections that returned the country to constitutional rule.

His government has staked its credibility on delivering growth that ordinary Gabonese can feel.

The resource trap looms

Gabon has tried to diversify before, only to slide back when oil prices recovered and the urgency faded.

Economists warn that the country must avoid the so-called resource trap, where commodity windfalls crowd out other industries.

Building roads and a gas plant is easier than building the institutions that make growth last.

Why outsiders are watching

For investors, Gabon offers a small but resource-rich market trying to move up the value chain.

Its manganese, timber and gas all feed global supply chains that buyers are keen to secure.

A credible diversification story could draw the foreign capital the government needs.

It is also a chance to broaden trade ties beyond the traditional buyers of Gabonese crude.

What to watch

The first test is whether the headline growth targets translate into jobs and steadier public finances.

Watch the Port-Gentil gas plant’s start-up and the pace of public-works spending through 2026.

Above all, watch whether the new government can sustain reform once the immediate pressure eases.

For a country of barely two and a half million people, the stakes of getting it right are unusually high.

Frequently asked questions

Why is the Gabon economy trying to move beyond oil?

Gabon’s oil fields are maturing and crude output is set to fall about 3% in 2026, so the government is betting on construction, gas and mining to drive growth instead.

How fast is Gabon’s economy expected to grow?

Official forecasts target non-oil growth of 9.2% in 2026 and overall growth near 7.9%, up from 3.4% in 2024.

What is replacing oil as Gabon’s growth engine?

Construction and public works, projected to expand more than 78% in 2026, plus a new Port-Gentil gas plant and plans to process more of the country’s manganese at home.

Who governs Gabon now?

President Clotaire Oligui Nguema, who led the August 2023 coup, was confirmed in April 2025 elections that restored constitutional rule.

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