Offshore wind power has been found to stand out among the most dynamic renewable energy technologies. With its long coastal line, Nigeria has an overwhelming advantage in developing marine energy resources to relieve the power crisis effectively. This work analyzed and characterized observation data of sea-surface wind speed and direction at 30-minute intervals between 1979 and 2015 at five synoptic offshore stations in the Gulf of Guinea. The seasonal variations in hourly surface wind speed and directions as well as the Weibull distribution of wind speed and wind power at 100 m hub height were examined. The wind shears, capacity factors, and accumulated energy outputs for seven offshore wind turbine types were determined for the selected locations. In addition, the economic analysis of the selected offshore turbines using levelized cost of energy was carried out, while sensitivity analysis of the total levelized cost of energy to key input parameters was further determined. The results revealed large spatial and temporal variations in wind speed and wind power in the Gulf of Guinea. The most viable offshore site for wind energy exploitation was Agbami (the deepest offshore site), while Bonny (the shallow coastal site) had the least. The findings established very good fits (having mean bias (between −0.08 ms−1 and −2.44 ms−1), percentage bias (between −0.47% and −13.98%), correlation coefficients (between 0.97 and 0.98), Chi-square (between 0.2 and 1.2), and root mean square error (between 1.2 ms−1 and 3.1 ms−1)) between Weibull distribution and the actual wind data. The wind turbines with the highest and the lowest wind power densities, capacity factors, and power outputs across the seasons and sites were V236-15.0 MW and Siemens SWT113, respectively. The levelized cost of energy was considered for the deep waters due to the moderately high-capacity factors. The highest values ranged between 101.48 and 137.12 USD/MWh at Sea Eagle with V236-15 MW and V117-4.2 MW, respectively, while the lowest ranged from 52.29 to 69.66 USD/MWh at Agbami with V236-15 MW and Siemens (SWT113), respectively. The exploitation of Nigeria’s offshore wind resources could also be dedicated to producing renewable hydrogen and can serve to meet the country’s ambitious targets set for carbon neutrality by 2060.
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