Economic Implications of Marine Oil Spill to Nigeria: A Case for Improvement in Coastal Pipeline Management and Surveillance Practices
Nwokedi Theophilus Chinonyerem,
Moses Ntor-Ue,
Ibe Callistus Chukwudi,
Onyemechi Chinedum
Issue:
Volume 2, Issue 3, June 2017
Pages:
40-47
Received:
10 April 2017
Accepted:
26 April 2017
Published:
14 July 2017
Abstract: Article 56 section 1 sub-section b(iii) of the United Nations Convention on Laws of the sea (UNCLOS), among other things identifies protection and preservation of the marine environment as a key role which coastal states must perform. While UNCLOS gave sovereign rights of ownership of certain zones in the oceans to coastal states, to fulfill their socio-political and economic interests in the use of the oceans and its resources, it also provides that it is the undisputable duty of coastal states to manage their claimed portions of the ocean/marine environment and more importantly, protect the environment from pollution, particularly, pollution from oil and gas (O&G) resources. The total quality management approach to safety management views safety progammes and policy implementations as investments, and emphasizes that such investments must be able to yield economic returns among others. The aim of the study therefore is to determine the economic implications of coastal oil spill induced losses to the Nigerian economy in order to estimate the economic impacts that coastal management programmes of agencies has had. The study adopted the natural resources damage assessment model, using data collected from the Nigerian National Petroleum Corporation (NNPC), the Organization of Petroleum Exporting Country (OPEC) and National Bureau for Statistics (NBS), to determine the oil spill induced revenue losses to Nigeria from 1984 to 2012. It was found among other things that within the period covered in the study, 1984 – 2012, the Nigerian economy lost estimated 3,928,260,196 naira revenue due to oil spill. This amount is not inclusive of remediation cost, third party costs and impact on the environment. Proactive use of technology for coastal oil pipeline and drilling platform surveillance was recommended.
Abstract: Article 56 section 1 sub-section b(iii) of the United Nations Convention on Laws of the sea (UNCLOS), among other things identifies protection and preservation of the marine environment as a key role which coastal states must perform. While UNCLOS gave sovereign rights of ownership of certain zones in the oceans to coastal states, to fulfill their ...
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