NRGI Flags 38 Per Cent Risk of Stranded Assets in Nigeria’s Oil Projects

NRGI’s Nigeria Country Manager Tengi George-Ikoli cautioned that some oil projects might become commercially unviable as global energy markets evolve, exposing Nigeria to stranded assets and potential revenue losses if investments lack adequate risk assessment.

George-Ikoli disclosed Nigeria faces a 38 per cent risk of not breaking even for certain upstream projects, based on the assessment of national oil companies’ commitments against IEA scenarios. She urged the government to prioritize investments that deliver sustainable returns and contribute meaningfully to national development.

The policy engagement on 'The Role of NNPC in Nigeria’s Energy Transition' in Abuja was organized by NRGI in collaboration with the Centre for Petroleum, Energy Economics and Law, and the Centre for Energy, Finance and Development.