"Nigeria's oil and gas production has not only failed to grow, it has fallen every year since 2005," says Pickard. "Investment in the industry has stalled. Final investment decisions are not being taken in deep water and, unlike Australia, no new liquefied natural gas (LNG) projects have been approved onshore. As a result, other countries are catching up with Nigeria fast."
In 2009 Nigerian crude oil production fell to 1.82 million barrels per day from 1.94 million b/d, according to the US