The decline in investments in the Nigerian oil and gas industry, partly caused by lack of access to finance for critical exploration and production projects, has been a source of worry to the players and the government. This situation is now being worsened by the global energy transition that is seriously threatening fossil fuels. Amid these challenges, stakeholders in the industry are advocating for the creation of a national energy bank as solution.
Nigeria has not recorded many major oil and gas development projects for many years, owing to several factors, including funding challenges, lack of clarity in the investment climate, anti-market policies, among others.
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