Natural resources are not evenly distributed on the earth surface (Odewumi and Patrick 2005: 192), thus economic imbalance and community relations becomes mandatory in order to benefit from each other since state cannot survive in isolation. Various parts of the world differ in climate, soil, topography, water bodies, natural vegetation, minerals wealth and other natural endowment (Odewumi and Patrick 2005: 192). Natural Resources from the above perspective constitute Nature-given material assets that can be harnessed by mankind to sustain life and create wealth. Natural resources in West Africa can be categorised into five: land and agricultural products, solid mineral, oil, water and water resources, and animal-stock (Abiodun Alao, 2007).
Extractive Industry in several sovereign states of the world serves as a major source of internal and external revenue (Import, Export and International Trade). Notable among the internationalized commodity of Extractive industries includes Oil, Mining and Gas etc. The experience of state in the extraction, commoditization and utilization of revenues from extractive industry has been worrisome and damaging in the light of good governance and natural resource governance.
Notable affected states include the developing otherwise the Global south states in Africa, Latin America, and Middle East. For instance, conflict diamonds of Angola and Sierra Leone (Ian and Collier 2013: 4) and secessionist movement as a result of Natural resources including Aceh (Indonesia), Biafra (Nigeria), Cabinda (Angola), Katanga (ex-Congo), and West Papua (Indonesia) (Ian and Collier 2013: 5). Nigeria is a country abundantly blessed with natural resource. Among these natural resources, the Hydrocarbon (Oil and Gas) has dominated the socio-economic and political fabric of the country since 1956.
Reason advanced for this is based on the fact that crude oil or petroleum is widely considered the most viable source of energy in the world (Cyril 2010: 485). However, Oil has contributed to the fragility of a developing state of Nigeria. Thus, this has made scholars sees it as a curse rather than a blessing (Ghazvinian 2005: 4-27; Obi 2010: 483-495; Omobolaji 2008: 21-34).
Natural resource governance is a fundamental aspect of contemporary development question in developing countries (Ibeanu 2009: 31-34). Natural resource governance “is considered within the framework of power, process and practice; and how these shape natural resource access, control and use” (Okoli, & Ahar 2015: 41). Roba et al (2013: 1), considers Natural resource governance as rules and regulations that determine (or govern) natural resources use and the way these rules and regulations are developed and enforced. The inability to fashion out a sustainable means through which all and sundry benefit from the natural resources has duly account for the mishap experienced in Nigeria oil communities which has affected the identity and reputation of the state. In sum, the United Nations Environmental Programme states that “over the years, contends that management of natural resources has posed a huge challenge to many countries (UNEP 2013). In addition, too, most resource-rich countries in Africa have no established and viable natural resources governance regime (UNEP, 2013). Within the context of Nigeria, there has not been any serious form of governance in Nigeria, thus, it is difficult to talk about Natural Resources governance of oil and gas in Nigeria. Nigeria and her oil natural resources governance have been pertinently problematic.