The Nigerian economy depends largely on hydrocarbons. Yet, in the wake of the Russian-Ukrainian war and the subsequent energy crisis that gripped European countries due to a reduction in gas supply from Russia, Nigeria found itself ill-prepared to seize the opportunity presented by the surge in demand for natural gas.
Despite possessing more than 200 trillion cubic feet of natural gas reserves, Nigeria failed to capitalize on the unprecedented rise in global gas demand. This lack of foresight and inadequate investments have significant implications for the nation's energy sector and its economic development.
