Abstract

Author:
Aniefiok E. Ite, Idaresit A. Ite, Eventus D. Edem, Joseph E. Okon

Doi: 10.26480/seps.02.2024.100.114

This is an open access article distributed under the Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Over the past six (6) decades, technological advancements in Nigeria’s oil and gas industry have made a substantial contribution to national economic development and global energy demand. With the oil and gas industry contributing over 90% of the nation’s exports and 80% of the Federal Government’s revenue, it is one of the most significant economic sectors in the nation. Since 1970, the oil and gas industry has controlled the growth rate and structure of Nigeria’s economy. However, the loss of petroleum-derived revenue, owing in part to falling crude oil prices but also to poor governance, corruption, insecurity (militant attacks and/or insurgency), and ineffective government petroleum development policies (non-implementation of relevant legislation and/or environmental laws), has resulted in significant environmental degradation, socioeconomic and sociocultural problems. Although Nigeria’s economy is primarily dependent on revenue derived from oil and gas resources, the majority of petroleum-producing host communities in the Niger Delta region have suffered a wide range of environmental degradation, significant negative impacts on the natural environment, detrimental effects on human health, socioeconomic impacts, and socio–cultural problems. In this review, we delve into the problems and prospects of all the phases of oil and gas exploration and production in the Niger Delta region of Nigeria. It will also shed light on the environmental and socioeconomic implications of oil and gas development and production in Nigeria. Furthermore, this research makes some recommendations to promote ethical and sustainable strategies for reducing negative impacts and improving the quality of life in impacted host communities producing oil and gas in the Niger Delta region.