The Challenges to Sustainable Development in the Nigerian Oil and Gas Industry

The goals of this research are to determine how the Nigeria oil and gas industry has impacted the actualization of the sustainable development goals and how the Nigeria oil and gas industry overcome its present challenges to achieve sustainability.

This paper found out that Nigeria oil and gas industry has not significantly contributed to the actualization of the sustainable development goals and Nigeria is at danger of not meeting the 2030 deadline for their actualization. In fact, the oil and industry activities have had an adverse effect on the environment, the health, the social and economic life of its host communities. The industry has employed an unsustainable “checkbook” approach, where it hands out cash to communities; but this act has created dislocation and rife in these communities and the monies have not been judiciously used. This paper has suggested some recommendation to this effect.

This paper found out that the challenges to the sustainable development of the Nigeria is majorly one of developing improved technology. Technologies currently used in other parts of the world have been discussed. Investing in Smart wells, expandable tubular, slimhole drilling and 4D seismic technologies will return immediate gains in the Nigeria oil and gas industry. Therefore, the Nigeria oil and gas companies can employ technology transfer in the short term, and then start the development of indigenous technology in the long term for it to achieve sustainability