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Articles

CJOE: Vol.9 No.2 December 2025

Green Financing and Its Impact on Entrepreneurship in the Nigerian Oil and Gas Sector

Submitted
August 23, 2025
Published
2025-08-23

Abstract

This study investigates the relationship between green financing and entrepreneurship development in Nigeria, using Techno Oil Limited as a case study. Guided by a positivist research philosophy and a deductive approach, the study employed a descriptive research design and a mono-method strategy, relying on structured questionnaires to collect quantitative data. A total of 107 respondents were purposively selected from the Finance, Sustainability, and Corporate Strategy departments. Data were analyzed using SPSS version 24, applying descriptive statistics and Pearson correlation analysis. Results revealed significant challenges to green financing, such as high collateral requirements (77.6% agreement), lack of awareness (92.5%), and policy uncertainty (40.1% agreement). Likewise, entrepreneurship development is constrained by limited access to capital (89.8%), high interest rates (96.2%), and economic instability (96.3%). The correlation analysis showed a statistically significant moderate positive relationship between green financing and entrepreneurship development (r = 0.475, p < 0.01), leading to the rejection of the null hypothesis. The findings underscore the need for policy reforms, awareness campaigns, and flexible financing mechanisms to enhance entrepreneurial growth through green finance in Nigeria