For so long, Nigeria has depended solely on crude oil exports to run its government; growth or decline being tied to the price of barrel in the international market. While successive governments have spoken about diversification of the economy, little progress has been made in diversifying government’s revenue sources. The current shift toward renewable energy sources will see the demand for oil in the future decline. The exploration of shale oil in the United States also means that the supply side of the market is under pressure of excess inventory. The current wave of countries giving timelines for phasing out fuel driven vehicles for electric ones and the quest for shale technology by the likes of China and Russia mean that the oil will no longer take center stage as it did in the 20th and early 21st century.