An energy law consultant in the Nigerian energy sector has allayed fears of the possibility of global shale development negatively affecting the Nigerian economy, which is largely dependent on revenues from sale of conventional oil and gas.
Speaking at an energy forum, Harrison Declan stated that "Nigeria it is believed, is one of such countries who find themselves in a precarious situation in the face of global shale development. Given the notoriety of such sentiment, one might have no choice but to hold same views. However, when a holistic view is taken of the entire scene, one observes that the future of the Nigerian economy vis-a-vis global shale development is not as bleak as is widely believed. The only market Nigeria has lost is the US market, there are still other markets. Also, shale would not live up to its hype".
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