Offshore Oil and Gas Drilling Regulatory Regimes in Nigeria : Unfolding the Setbacks

There is a growing concern on the complicated nature of the enforcement of regulatory instruments with regards to the accountability of crude oil companies' offshore production activities in Nigeria. Elsewhere in the world, adequate steps are well structured to monitor compliance and enforce the laws to create the balance between crude oil production and socially efficient accountability with regards to safety, environmental responsibilities, economic equilibrium, fiscal stability of oil production and customary international laws. Consequently, this article seeks to identify the fundamental defects with the relevant laws and regulations governing offshore oil drilling in Nigeria and to device the best possible ways to improve the omissions and lapses in the laws, regulations, and the institutional management of the offshore facilities