Abstract

The enactment of the Petroleum Industry Act (PIA) in 2021 represented a watershed moment for Nigeria's oil and gas sector, introducing comprehensive reforms aimed at modernizing the industry's legal and regulatory framework. Among its most significant provisions is the establishment of the Environmental Remediation Fund, designed to provide a dedicated financial mechanism for addressing environmental damage resulting from upstream petroleum operations. This paper examines the Environmental Remediation Fund's statutory framework, implementation status, and implications for ...