THE PRINCIPLE OF SUSTAINABLE DEVELOPMENT (SD) AND ITS APPLICATION TO OIL EXPLORATION IN NIGERIA

Abstract

Crude oil remains the main sustenance of Nigerian economy. Exploitation of crude oil in Nigeria has continued astronomically without commeasurable attention to adverse implications on the environment and the principle of sustainable use. This has led to serious environmental degradation, underdevelopment and poverty in the areas where the oil exploration activities are carried out. The principle of sustainable development expresses sustainable use of natural resources. This paper examines the principle of Sustainable development, its evolution, significance, and application to oil exploration in Nigeria. The paper concludes that even though the principle has been given expression in the policies, laws and regulations for oil exploration in Nigeria, its full application remains a mirage. Recommendations are made as to how the principle can be given effect in oil exploration in Nigeria.