Economy & Markets
4 min read
Nigerian Oil Companies Face Funding Hurdle Amidst Ambitious Acquisitions
Businessday NG
January 20, 2026•2 days ago
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Nigerian indigenous oil companies are acquiring assets from Western majors, but face significant funding challenges. These firms struggle to secure capital for maintaining aging infrastructure, developing new reserves, and meeting environmental obligations in a difficult operating environment. This financial hurdle threatens their long-term sustainability and expansion plans.
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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