Abstract
The Nigerian hydrocarbon industry presents substantial opportunities for both local and
international investments, significantly influencing the nation’s development trajectory. This study
explores the regulatory frameworks and dispute resolution mechanisms, emphasizing their effects
on investment dynamics. Employing a qualitative (doctrinal) research method, the analysis
includes primary and secondary data, with a focus on the Petroleum Industry Act (PIA) 2021. The
findings indicate a growing trend of investments and a strong preference for Alternative Dispute
Resolution (ADR) mechanisms, including arbitration, mediation, conciliation, and expert
determination. These ADR mechanisms are in line with international best practices and foster
robust investment. The study advocates for the continued use of ADR, the development of
institutional frameworks, and the establishment of energy courts to expedite dispute resolution and
bolster national economic development.