Technological and Financial Sovereignty as Catalysts for the Industrialisation of the Nigerian Oil and Gas Industry

Nigeria’s oil and gas industry remains predominantly extractive despite decades of production, with limited industrial development and persistent reliance on foreign technologies and external financing. This study examines how technological and financial sovereignty can serve as catalysts for transforming the sector into a value-driven industrial base.
The study aims to explore the extent to which local control over technology and capital can facilitate sustainable industrialization. It addresses the problem of structural dependency, which constrains domestic capacity and undermines economic autonomy.
The research is anchored in Dependency Theory and the Resource Curse Thesis. A qualitative approach was adopted, relying entirely on secondary data sources, including policy documents, industry reports, and scholarly works, which were analyzed thematically.
Findings indicate that continued dependence on foreign expertise and capital significantly limits industrial growth, although recent local content initiatives demonstrate emerging progress. The study concludes that meaningful industrialization requires deliberate investment in indigenous technological capabilities and the development of robust domestic financing systems.
It therefore recommends the establishment of a coordinated national framework that integrates local technological innovation with structured indigenous financial institutions to drive long-term transformation within the oil and gas sector.