EXPLORATION AND PRODUCTION OF SHALE OIL AS A RENEWABLE ENERGY FOR SUSTAINABLE DEVELOPMENT IN NIGERIA: NEED FOR LEGAL ALIGNMENT

Abstract

Energy availability can be among indices used as an index in measuring a country’s stability, as well as her economic and social development strides. Resources which can generate energy are available in Nigeria awaiting foray. Shale Oil which is an unconventional oil being harnessed in the United States, and extensive utilization of renewable energy. This article examined the ills of over dependence on fossil fuel and the possibility of energy generation through alternative sources such as shale oil exploration and renewable energy sources; Solar, Biomass, Hydro and Wind which are available in the country. The researchers adopted the doctrinal method of research while employing the analytical and comparative approaches. The primary and secondary sources of data collection were also resorted to through legislations, conventions, laws, case laws, and books, journal publications and policy papers respectively. We found that the aforementioned alternative source of energy development can contribute in facilitating sustainable development and contribute immensely in tackling global environmental challenges such as climate change and diversifying the country’s economic source of income by making it less dependent on the vagaries of oil prices. We concluded by categorically stating that Nigeria’s over dependence on a mono economy is one of the bane of her sustainable national development and diversification is a veritable source of sustainability. Recommendations were made on the need for government to take further step towards ensuring that policies on alternative sources of energy generation are given adequate legal backing which are enforceable and can encourage foreign investment in clean renewable energy. A formidable legal structure is thereby suggested in strengthening the rising potential of Renewable Energy and consideration of shale oil exploration, to meet high demands for energy especially in the area of electricity