Nigeria risks losing 38% of oil projects to energy transition — NRGI

By Folarin Kehinde
The Natural Resource Governance Institute (NRGI) has warned that Nigeria risks failing to recover investments in 38 per cent of its upstream oil and gas projects, urging the Federal Government to reassess its petroleum investment strategy amid the global energy transition.
The institute cautioned that some projects could become commercially unviable as global energy markets evolve, exposing the country to stranded assets and potential revenue losses if investments proceed without adequate risk assessment.
The Nigeria Country Manager of NRGI, Tengi George-Ikoli, disclosed this at a policy engagement on “The Role of NNPC in Nigeria’s Energy Transition” in Abuja.
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