EFFICACY OF THE LEGAL FRAMEWORK ON THE ENVIRONMENTAL IMPACT OF CRUDE OIL THEFT IN NIGERIA

Abstract

The issue of environmental degradation as a result of crude oil theft is fast becoming an intractable problem in Nigeria. Nigeria is reported to be losing about $7 billion annually to oil theft; crude oil theft has led to pipeline damages causing oil firms to cut output and environmental degradation through oil spillage. The Federal Government has enacted plethora of laws and regulations in combating the menace of crude oil theft. This paper discusses the efficacy of the Nigeria laws and regulations, the challenges of crude oil theft, the endemic consequences of oil spillage in the Nigeria environment, the economic effect of crude oil theft and the lack of sincerity of purposes of the Nigerian government in tackling crude oil theft. This paper recommends appropriate preventive pragmatic measures and policies that would pave way for absolute strict liability of the enforcement and implementation of existing laws and further concludes that crude oil theft is an act of terrorism against the Nigerian economic.