This study was carried out to critically examine the factors influencing accelerated corrosion of cargo oil tanks using Cheron Oil and Gas Company as a case study. To achieve this objective, three research questions and one research hypothesis were formulated to guide this study. The data collected were analyzed using simple percentages and tables to analyze research questions and Chi-square statistical technique was used for testing the research hypothesis using Statistical Package for Social Sciences (SPSS) software. A structured questionnaire was used as the major instrument for data collection from the respondents in Cheron Oil and Gas Company. After careful analysis of the data, the following findings were revealed that; there are factors influencing accelerated corrosion of cargo oil tanks in Nigeria. The study was concluded with some recommendations that; the effectiveness of coal tar and pure epoxy coatings should be evaluated in an environment that includes microbial influenced corrosion; the composition and moisture content of inert gas should be examined to determine its influence on the corrosion rate as well as methods for decreasing the corrosive constituents of the gas and an effort should be made to determine if some crudes are more susceptible to creating accelerated corrosion than others.