Nigeria's federal government has announced that 50.3 Standard Cubic Feet (SCF) of gas, worth N81 billion Naira ($176 million), were lost to gas flaring in January and February 2023. The data comes at a time when Nigeria is experiencing an energy crisis.
The government has also revealed that it will impose a N22 billion ($49m) fine on oil and gas companies operating onshore for flaring 24 billion SCF of gas, worth about N40 billion ($86m) for the same two-month period. The National Oil Spill Detection and Response Agency (NOSRDA) disclosed that the companies would pay the penalty for breaching the gas flaring regulations.
According to NOSRDA, the volume of gas flared in January and February 2023 was 11.9% lower than the 57.1 billion SCF flared in the same period in 2022. The volume of flared gas amounts to carbon dioxide emissions of 2.7 million tonnes and has a power generation potential of 5,000 gigawatts-hour of electricity.
In a statement, NOSRDA said, "Companies operating onshore flared 24.5 billion SCF of gas valued at $85.8 million, with $49 million penalties payable." The Nigerian government's decision to fine the companies comes as it seeks to reduce gas flaring in the country. Nigeria is Africa's largest oil and gas producer, and gas flaring has been a major environmental issue in the country, causing air pollution and exacerbating climate change.
Share Your Thoughts