August 31, 2026
Ojulari
For years, Nigeria sat on a paradox beneath the Atlantic. Its deep offshore held enormous oil and gas reserves, international oil companies possessed the technology and expertise to develop them, and the country desperately needed the investment, production and revenue that such projects could generate. Yet, somehow, the money remained on the sidelines.
Projects that should have become engines of growth were trapped in prolonged negotiations, fiscal uncertainty, commercial disagreements and regulatory bottlenecks. Some of the country’s most promising offshore assets became monuments to what Nigeria had in abundance but struggled to convert into wealth.
That story may finally be changing. The most compelling evidence is not another government promise or another projection of what Nigeria’s petroleum industry could become. It is the movement of serious capital towards projects that had spent years waiting for the right commercial conditions.
