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The current study focused on accounting for sub-soil assets: Its implications, benefits, and challenges in Nigeria from the theory of comparative advantage point of view. The study employed a survey research design. Two hypotheses were formulated for the study and the one sample t-test was employed in validating the hypotheses. The study found that there is significant adoption and utilization of measurements of sub-soil assets in Shiroro Dam. The study also found that there is significant use of Analytical techniques to improve accountants’ performance in accounting for sub-soil assets. Other qualitative findings emanating from the study included the absence of green and clean sub-soil exploration activities in Nigeria which is a strong factor responsible for the agitations in the Niger-Delta regions of Nigeria. The study also discovered a strong link between accounting for subsoil assets and long-term development. Consequently, the study recommends amongst others that (IAS41-Agriculture) be adopted and maintained as a principle for measuring all costs related to biological assets to ensure proper valuation of sub-soil assets and proper disclosure of green sub-soil exploration thereby mitigating the adverse effect of oil and other sub-soil explorations in Nigeria.