Impact of The Legal Environment On Nigeria’s National Economic Development

Abstract

This study examined the impact of legal environment on Nigeria's national economic development. The Environment plays significant role in the development of the economic advancement of any nation, as the natural resources like fossil fuels and minerals bring about the production of goods and services. A healthy environment provides necessities like clear water, good food and clean air; and provides ways to fight natural hazards. Thus, laws have been put in place to protect our general safety, ensure our rights as individuals are not threatened by our environments, organizations or by the government itself. Enforcing these laws, rules and regulations is good for growth and economic development. The study embraced a doctrinal approach making use of laws, legislations and related literature. It was found out despite environmental laws and assessment in place to enhance economic growth, the Nigerian environment is not there yet there as there exist absence of a safe and conducive environment which can bring about economic growth and development. It was also found out that despite the myriad of laws and legislations that are meant to safeguarding the environment, there had been little or no significant economic growth as a result of ineffective prosecution of environmental offenders, constant pollution, exorbitant cost of pollution control equipment and gas flaring amongst others. The study concludes by proffering recommendations, which if adhered to would advance economic growth and development.