ENVIRONMENTAL SUSTAINABILITY AND POLITICAL ECONOMY OF THE NIGER DELTA IN THE PETROLEUM INDUSTRY ACT 2021

Abstract

Environmental sustainability is fundamental to the continuous existence of mankind in peaceable harmonious relationship with nature. Environmental sustainability deals on the ability of the environment to sustain itself against pollution or depleting activities of man without losing the potential of providing same resources to future generations. Oil and gas exploration, exploitation and marketing results in challenging environmental issues which stakeholders must consider in the light of non-renewability of petroleum and seek sustainable ways for its utilization. The paper found that environmental sustainability in the Niger Delta require higher levels of political will and commitment at the federal government levels. The article uses the fee simple theory of ownership of petroleum to propose individual ownership of resources as sure way to environmental sustainability in Niger Delta Nigeria.