Energy Security in Nigeria: Legal and Statutory Framework Examination

Abstract

Energy is a source of power, such as fuel used for driving machines, providing heat. Security is
protection against something bad that might happen in the future, energy security. Petroleum
sector is the main source of energy supplies in most countries and really the most dominant
export commodity in a country like Nigeria. If properly utilized, it could help to secure a
sustainable energy future and promote economic development in Nigeria. The duty of ensuring
the availability, affordability, reliability and sustainability of energy supplies does not rest with
the government alone. But Nigerian National Petroleum Corporations (NNPC), the organized
private sector, non-governmental organizations, individuals and the multinational corporations
have respective responsibilities in this duty. Law plays a central role in this search, as it is the
instrument with which every society creates for itself a framework of principles within which to
develop. The energy industry is essential to the security and independence of a country. Actually,
meeting the world’s need for accessible petroleum in a reliable, affordable and sustainable ways
has become a difficulty duty for government, national oil companies and the industry. Nigeria’s
energy security situation is a contradiction as there is a blatant evidence of an inadequate supply
of petroleum resources for its teeming domestic consumers. This paper’s reliance on legal and
statutory framework and economic success in Nigeria enriched its recommendation for
promoting a sustainable energy supply in Nigeria. This, we said, is the precis of this paper. Our
recommendations are” there is need to legislate for security of supply of petroleum products
which has eluded many citizens in Nigeria. Infact, the passage of Petroleum Act, 2020 (as
amended) is a welcome development; as the extant law on Petroleum in Nigeria, the Petroleum
Act 1969 was inadequate and lacking in energy security. We recommended total implementation
of the Act for energy security and sustainable development.