Carbon Capture and Storage (CCS) is one of the techniques for greenhouse gas (GHG) emissions reduction. This article reviews the current status of CCS technology, highlights costs and discusses legal and regulatory issues of CCS. The main purpose of the article is to review CCS and CO2-EOR experience from ongoing projects in different parts of the world and give recommendations on how this knowledge can be applied in Nigeria. A potential demonstration CO2-EOR project in Nigeria under the Clean Development Mechanism (CDM) is discussed.