Implications of the Russia-Ukraine War for natural resources extraction in Nigeria

Europe relies heavily on Russian gas, which was supplied seamlessly over the years to various parts of the continent through gas pipelines and was almost always available for European consumption. However, supplies of gas to European countries have been disrupted because of the recent Russia-Ukraine war. The European Union has agreed to cut gas imports from Russia by two-thirds by the end of 2022. On the other hand, in Africa, Nigeria has proven gas reserves worth more than $803.4 trillion and a potential gas production output of 470 billion cubic meters. Nigeria exported about 40% of its natural liquefied gas to Europe before the Russian-Ukraine War. The EU's decision to replace gas from Russia with gas from Nigeria implies that there must be an increase in the production of gas in Nigeria, enough to meet the demands of the EU. While this development is laudable and can improve the Nigerian economy, it is uncertain that the lingering issues of recurring gas flaring, environmental degradation, and environmental pollution can be controlled in the country. It becomes imperative to analyse the implications of the expansion of gas production in Nigeria to suffice for the demand for gas in Europe. This study, analysing extant data with desktop reviews, concludes that the adverse consequences of increased gas production in Nigeria far outweigh the positive implications. The government of Nigeria must, therefore, ensure that regulations that ensure gas extraction activities are carried out according to global best practices to boost the production capacity of Nigeria.