Nigeria has serious environmental degradation resulting from pollution related to the oil and gas industry. The Department of Petroleum Resources reports that there were over 4,200 oil spill incidences in Nigeria over the last 50 years, ranging from minor spills to over half a million barrels in one single incident; yet there are no coherent policies on the environment to deal with the on-going pollution problems. Significant improvements can be achieved by good Environmental Impact Assessments (EIA) and strict adherence to regulations. The history, strengths and weaknesses of EIA application and implementation in the oil industry are reviewed and assessed. The main research method was the use of a bespoke questionnaire sent to 705 recipients of whom 560 responded, and who were identified as a representative cross-section of stakeholders; including oil industry personnel, academics, government organisations personnel, representatives from local communities affected by the pollution, and Non-Governmental Organisations (NGOs). The questionnaire survey was used to determine the views of the stakeholders on the role of EIA in Nigeria‟s oil and gas industry; it also investigated the levels of the respondents‟ involvement, experience and participation in EIA. The data from the questionnaire was analysed using statistical methods, which elucidated the nature of the perceived conflict between the oil companies and government organisations, against academics and stake-holder communities. The results clearly demonstrated the ingrained views and perceptions on each side of the dispute. In addition the results highlighted the constraints and challenges faced by various stakeholders in conducting EIA in Nigeria, and emphasized the need for changes in the way EIAs were conducted in the oil industry. The research identified components of particular concern within the Nigerian EIA structure, process and implementation; and raised questions about the adoption or external Agency or industry imposition of 1st World designed EIAs in Nigeria.