Friday, October 22, 2021

    Reps reassure on ending gas flaring in Nigeria

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Femi Ogunshola

    Abuja, Feb. 15, 2021 The House of Representatives has reassured on ending gas flaring in the petroleum industry in Nigeria.

    Rep. Nicholas Mutu, the chairman House Committee on Gas Resources Environment and Climate Change, said this at a one -day public hearing on the need to end gas flaring in the country on Monday in Abuja.

    He said notwithstanding the delay, the House would address the issue and work with stakeholders to end gas flaring within the shortest possible time.

    Mutu said that the committee would gather inputs from stakeholders on ways and means by which legislative steps could be taken to stop continuous flaring of associated gas.

    He added that the House would ensure the installation of equipment for capturing associated gas as obtained in the advanced world.

    Mutu said that the House would support the Ministry of Petroleum Resources, Nigerian National Petroleum Corporation and other Regulatory bodies saddled with the responsibility of ending gas flaring in Nigeria.

    “We will ensure strict compliance with the 2018 flare gas prevention of waste and pollution regulations and implementation of Nigeria Gas Flare Commercialisation Programme.

    “Gas flare is a malady that we must work together to eliminate at the shortest time possible; because of its all-round adverse effect on the environment and socio-economic well-being of the people of Niger Delta,” he said.

    He said that gas flaring also has adverse effect on the fiscal measures of the Federal Government.

    “By current estimates of PricewaterhouseCoopers (PwC), Nigeria loses over 750 million dollars in annual revenue from gas flaring.

    “The gas that is being flared is feedstock for other industries, which if properly harnessed would stimulate economic growth,” he said.

    He said that ending gas flaring will also help create jobs and provide income for midstream companies in addition to more revenue for government through taxes.

    Speaker House of Representatives Femi Gbajabiamila, said the house debated on the need to end gas flaring in 2020, adding that the event was in fulfillment of the resolution reached at the debate.

    “Numerous efforts about ending gas flaring in Nigeria have not yielded the desired results and the country has not been able to end the environmental damage that results from gas flaring,’’ he said.

    He said that the situation had deprived Nigeria, economic benefits of full utilisation of gas resources in the country

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