Any idea what % of your country GDP is related to oil industry?

Oil accounts for 2/3 of state revenue but only constitutes 9% of GDP. So, oil is a big deal for Nigeria's economy.

It may also be very difficult in current days to borrow money. Foreign banks may not be willing to be a lender at this time.

You're right. The risk is very high as oil prices may plunge even further. Banks at least want to lend responsibly. Cheers!