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  FederalGovernment  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.