Once the pride of Nigeria’s capital market and a reliable driver of government revenues and foreign exchange earnings, the country’s oil and gas sector has become an underperformer on the Nigerian Exchange (NGX). Currently, investor sentiment has decisively turned against listed energy companies, exposing deep-seated structural issues and calling for urgent reforms to regain investor confidence.
Despite relatively stable global oil prices, averaging around $85 per barrel for much of this year, Nigerian oil and gas stocks have struggled to re
