Oil shale is an unconventional source of fuel distributed across the world with only few active explorations due to the competitive advantage price of crude oil and natural gas. However, oil shale holds important application in the context of a decline in the crude oil reserves and a spike in the oil prices. In order to prepare for the futuristic tail off in the conventional oil sources, efforts are since geared towards evaluating the oil yield potential of oil shale of different countries. In this work, a concise summary of related researches in the study of oil shale analysis with particular emphasis on the Nigerian oil shale was investigated. We identified the shortcomings in the adopted techniques and suggested the complementation of a Terahertz-Time Domain Spectroscopy THz-TDS. Other than the indigenous Fischer Assay method of oil shale analysis, a combination of at least one other technique is usually incorporated in the analysis. The potential of the supplementary THz-TDS technique to yield perceptive results was addressed with promising recommendations to enhance the performance of the technique.