An indigenous company wholly owned by the federal government of Nigeria which currently engaged in prospecting for oil is?

The correct answer is "the Nigeria National Petroleum Corporation". The Nigeria National Petroleum Corporation (NNPC) is a Nigerian government-owned oil corporation. It was established in 1977 with the aim of regulating the country's oil industry and ensuring that the benefits from Nigeria's oil reserves are shared among the Nigerian people. The NNPC is involved in all aspects of the oil industry, from exploration to production and refining, and it works in partnership with both local and international oil companies.