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This work investigates the Nigerian Business Environment and the Performance of Oil and Gas Firms: Study of Net-Work Oil & Gas Limited. Interest in the study was to determine how the politico-legal, economic, sociocultural, technological (PEST) factors present in the Nigerian business environment affect the performance of Net-work oil & gas and also the strategies that have ensured survival of the firm, using customer satisfaction, profitability, market share, efficiency, growth and survival as performance indices. The survey design was adopted, using stratified sampling and random sampling to select 120 respondents as study participants out of 151 employees of the company. A close-structured questionnaire was used to collect data for the study, and data analysis was carried out using Spearman's rank correlation. Results showed that significant relationships exist between Nigerian business environment and the performance of oil and gas firms.