Energy Security and Sustainable Development of Nigeria's Oil and Gas Sector

Abstract

Abstract Energy security is a critical component of a nation's sustainable development, and for an oil and gas-rich country like Nigeria, it is particularly pivotal. This study explores the multifaceted dimensions of energy security in the context of Nigeria, delving into the challenges, opportunities, and policy considerations that shape the sustainable development of its oil and gas sector. Nigeria is one of the largest oil and gas producing country in West Africa Sub region. The country has been striving to attain national energy security. The methodological framework of the study involves the use of literature review, policy documents and case. The study finding reveals that for a country like Nigeria which is a mono based economy?. Without energy mix, it is very challenging to achieve energy security despite being endowed with fossil fuels. However, Nigeria has the potential to increase its energy security in future by diversifying its energy resources, decarbonizing the oil and gas industry by utilizing its enormous gas resources and integrating with other African countries especially in the energy market. The study also recommends keying into renewable energy especially in this era of energy transition and adopting energy efficiency principle.