Journal of Advance Management and Accounting Research Vol.3, No.7, 2016; ISSN (2728 - 4273); p –ISSN 3584 - 5611 www.cardpub.org/jamar: jamar@cardpub.org: Accounting Perspective of Environmental Footprint of the Oil and Gas Industry in the South- South Region of Nigeria 14 Accounting Perspective of Environmental Footprint of the Oil and Gas Industry in the South-South Region of Nigeria Oti, Peter A. (Ph.D) & Effiong, Sunday A. (Ph.D) Department of Accounting Faculty of Management Sciences University of Calabar, PMB (UPO) 1115, Calabar, Nigeria. pitaoti@yahoo.com Akpan, Dorathy. C. (ACA) Department of Accounting Faculty of Management & Social Sciences Akwa Ibom State University PMB 1167, Uyo Akwa Ibom State Abstract The study determined from accounting perspective, the environmental consequences of the operations of oil and gas companies in the Niger-Delta region of Nigeria. The study was motivated by the curiosity to explain what goes on in the Niger-Delta region in the light of environmental degradation and the continuous agitation for a sustainable approach to corporate social responsibility (CSR). The study adopted the ex-post facto research design. Questionnaires were used to collect data from primary sources while relying on previous studies for secondary data. The Yaro Yamani sampling determination technique was applied to a sample size of 300 respondents drawn from a population of three million. Data collected were analysed using population t-test at 95% level of significance. The result shows that the corporate social responsibility strategies employed by the oil and gas companies are not adequate to address the environmental degradation resulting from their operations. These findings agree with Bauelleret al (2011), whose work indicates that the oil and gas companies in an attempt to respond to the needs of vulnerable communities adopt strategies that are largely short-term and unsustainable. The result of this study also aligns with the work of Christian (2014) which indicate that the CSR of the oil and gas companies are rather self-serving as they are targeted at corporate image laundering. The study recommends an all- inclusive process of planning and budgeting for projects and programmes after a joint needs assessment. It is also recommended that all CSR projects and programmes be captured in a memorandum of understanding (MOU) and the implementation monitored and reported periodically to all stakeholders. Both international and local statutes regarding environmental protection should be respected and erring companies should be held accountable and appropriately sanctioned. Key words: environmental degradation, corporate social responsibilities, oil and gas exploration, corporate image laundering, vulnerable communities.