Economy & Markets
4 min read
Local Oil Firms: Ambitions Outstrip Capital Amidst Funding Hurdle
Businessday NG
January 20, 2026•2 days ago
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Nigerian indigenous oil companies are facing significant funding challenges after acquiring assets from Western majors. Despite a buying spree costing billions, these firms struggle to secure capital for infrastructure maintenance, reserve development, and environmental compliance. This financial hurdle threatens their operational sustainability in a demanding environment.
Nigeria's indigenous oil companies have embarked on an unprecedented buying spree, snapping up assets from departing Western majors for billions of dollars. But the celebration may be premature, as BusinessDay’s findings have shown that sourcing the financial firepower to maintain aging infrastructure, develop new reserves, and meet environmental obligations in one of the world's most challenging operating environments may be the hardest challenge. According to The Economist, a British journal, most indigenous oil companies, with the nota
Nigeria's indigenous oil companies have embarked on an unprecedented buying spree, snapping up assets from departing Western majors for billions of dollars. But the celebration may be premature, as BusinessDay’s findings have shown that sourcing the financial firepower to maintain aging infrastructure, develop new reserves, and meet environmental obligations in one of the world's most challenging operating environments may be the hardest challenge. According to The Economist, a British journal, most indigenous oil companies, with the nota
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