ASSESSING THE ENVIRONMENTAL AND SOCIOECONOMIC CONSEQUENCES OF FOSSIL FUEL ACTIVITIES IN NIGERIA: IMPLICATIONS FOR SUSTAINABLE DEVELOPMENT AND CLIMATE RESILIENCE

This study critically examines the environmental and social impacts of Nigeria’s fossil fuel dependency, focusing on pollution levels, health outcomes, and climate risk exposure within oil-producing regions. Utilizing a comprehensive dataset spanning 2015 to 2023, the analysis employs panel regression and instrumental variable techniques to address potential endogeneity and capture dynamic relationships. Results indicate that fossil fuel extraction and associated activities contribute to environmental degradation and increased vulnerability to climate risks, though the direct statistical significance of some effects remains limited, potentially due to data constraints. The findings underscore the complex interplay between economic development, environmental sustainability, and social wellbeing in resource-rich contexts. Policy recommendations emphasize the importance of strengthening regulatory frameworks, promoting renewable energy transitions, and enhancing community health infrastructure to mitigate adverse effects. The study contributes to the growing body of literature on sustainable development in fossil fuel-dependent economies and highlights avenues for future interdisciplinary research.