• Latest
  • Trending
Nigeria’s State-owned Oil Company to be Commercialised, Not Scrapped, Petroleum Minister Says

Nigeria Sets Four-year Target to Eliminate Gas Flaring

February 16, 2021
Can Nigeria Sell Crude Oil in Naira to the Dangote Refinery?

Can Nigeria Sell Crude Oil in Naira to the Dangote Refinery?

March 2, 2021
Global Business Report

Global Business Report

March 2, 2021
Bill to Amend Nigeria’s Revenue Sharing Formula Passes Second Reading at Senate, 20% Proposed for Sovereign Fund

Nigerian Senate Affirms New Service Chiefs’ Appointment

March 2, 2021
Nigerian-born Professor Akande Gets UK Nomination as Representative to UN Commission

Nigerian-born Professor Akande Gets UK Nomination as Representative to UN Commission

March 2, 2021

Morning Show

March 2, 2021
Buhari Orders Nigeria’s Central Bank to Stop Issuing Forex for Food Importation

Ransom Payments Will Continue to Prosper Kidnapping, President Buhari Says After Release of Zamfara Schoolgirls

March 2, 2021
Three South Sudan Military Generals Die of Covid-19

Three South Sudan Military Generals Die of Covid-19

March 2, 2021

BREAKING: Nigeria Takes Delivery of 3.92m Doses of AstraZeneca Vaccines

March 2, 2021
Nigeria: DSS Releases Kano Governor’s Aide Dismissed for Criticising Buhari

Nigeria: DSS Releases Kano Governor’s Aide Dismissed for Criticising Buhari

March 2, 2021
‘Indecently Dressed Tourists’ in Zanzibar to Pay Fine

‘Indecently Dressed Tourists’ in Zanzibar to Pay Fine

March 2, 2021
Niger Opposition Leader Charged With Plot to Overthrow Government

Niger Opposition Leader Charged With Plot to Overthrow Government

March 2, 2021
Chad Opposition Leader Pulls Out of Presidential Race

Chad Opposition Leader Pulls Out of Presidential Race

March 2, 2021
Behind the Numbers: MTN Nigeria’s Record-breaking N1.3tn Revenue Year

Behind the Numbers: MTN Nigeria’s Record-breaking N1.3tn Revenue Year

March 2, 2021
Oil Prices Fall on Renewed Coronavirus Concerns as China Cases Mount

Oil Price Rebounds to $66 Ahead of OPEC Meeting

March 2, 2021
Ex-President Bartomeu, Others Arrested as Police Raid FC Barcelona

Ex-President Bartomeu, Others Arrested as Police Raid FC Barcelona

March 2, 2021
Chinese Vaccines Sweep Much of the World, Despite Western Concerns

Chinese Vaccines Sweep Much of the World, Despite Western Concerns

March 2, 2021
Betting on Death of Petrol Cars, Volvo to Go All Electric By 2030

Betting on Death of Petrol Cars, Volvo to Go All Electric By 2030

March 2, 2021
Name Schoolgirls’ Abductors, Nigerian Socio-cultural Groups Tell Zamfara Governor

Name Schoolgirls’ Abductors, Nigerian Socio-cultural Groups Tell Zamfara Governor

March 2, 2021
New York Governor Cuomo under Investigation By FBI for Nursing Home Deaths

Calls for Cuomo’s Resignation Mount as 3rd Sexual Harassment Accuser Emerges

March 2, 2021
Terrorists Attack UN Base in Nigeria’s Northeast Borno State, 25 Aid Workers Trapped

Terrorists Attack UN Base in Nigeria’s Northeast Borno State, 25 Aid Workers Trapped

March 2, 2021
Nigeria Threatens Second Lockdown Over Low Compliance with Covid-19 Protocols

Covid-19: Nigeria to Vaccinate 70% of Population Before 2022, SGF Mustapha Says

March 2, 2021
Ghana’s President Akufo-Addo Becomes First Recipient of Covid Vaccine from COVAX

Ghana’s President Akufo-Addo Becomes First Recipient of Covid Vaccine from COVAX

March 2, 2021
Zamfara Schoolgirls in Northwest Nigeria Released Early Hours of Tuesday

Zamfara Schoolgirls in Northwest Nigeria Released Early Hours of Tuesday

March 2, 2021
ARISE Newsnight

ARISE Newsnight

March 1, 2021
ARISE XCHANGE

ARISE XCHANGE

March 1, 2021
Nigerian Government Opens Portal for Covid Vaccination E-registration

Nigerian Government Opens Portal for Covid Vaccination E-registration

March 1, 2021

ARISE NEWSDAY

March 1, 2021
Former France President Sarkozy Found Guilty of Corruption, Sentenced to Prison

Former France President Sarkozy Found Guilty of Corruption, Sentenced to Prison

March 1, 2021

Global Business Report

March 1, 2021

Morning Show

March 1, 2021
en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
No Result
View All Result
Wednesday, March 3, 2021
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
No Result
View All Result
Arise News
No Result
View All Result
Home Regional

Nigeria Sets Four-year Target to Eliminate Gas Flaring

February 16, 2021
Reading Time: 5min
0 0
0
Nigeria’s State-owned Oil Company to be Commercialised, Not Scrapped, Petroleum Minister Says

Timipre Sylva

Share on FacebookShare on Twitter

Nigeria’s federal government on Monday unfolded plans to stop gas flaring in the next four years.

Minister of State for Petroleum, Chief Timipre Sylva, at a public hearing on “Need to End Gas Flaring in Nigeria and Harness Associated Gas in Nigeria organised by the House of Representatives Joint Committee on Gas Resources, Environment and Climate Change, said in Abuja that Nigeria would join the global community in achieving the complete elimination of gas flaring by 2025.

He told the gathering that his ministry took the issue of gas flaring seriously and was working hard to stop it.

He, however, stated that Nigeria has so far reduced gas flaring to eight per cent.

“We believe, with all the programmes lined up, that we are on course to achieve complete elimination of gas flaring by 2025. We take the issue of gas flaring in the ministry very seriously,” Sylva said.

Corroborating Sylva’s statement, Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mr. Mele Kyari, said in his presentation that the corporation was executing some projects to eliminate gas flaring.

Kyari cautioned against increasing the flaring penalty, saying that it is better to create commercial terms that will enable companies to invest in the flare which can be converted into money.

”Two things must happen: one is to put the enabling infrastructure, which we are doing immensely. We are building major trunklines that will receive the flared gas that you are seeing today.

“We are connecting most parts of this country to the gas network so that people can convert this gas to power industries and they are all within sight. Just to put it in perspective, by the end of March, we have what we will call the quarry cluster for flared gas. It makes about 200 million cups of gas. By the end of March, this will vanish because once we end connecting all the lines, automatically, it goes away.

”No matter how many penalties you put, if the cost of the penalty is cheaper than developing, people will continue to flare and pay the penalty. You can raise the penalty to any number and what it does is that it will completely make the people not to invest in anything,” he stated.

In his keynote address, the Chairman, Joint Committee of the House on Gas Resources, Environment and Climate Change Committees, Hon. Mutu Nicholas, stated that Nigeria loses over $750 million in annual revenue from flared gas.

Nicholas explained that the gas that is being flared is the feedstock for other industries, which if properly harnessed would stimulate economic growth, create jobs, provide income for midstream companies and earn revenue for government through taxes.

He lamented that efforts by the federal government to stop gas flaring have been inadequate and ineffective since 1979 when Nigeria made the first legislative attempt to address the problem.

He said: ”Gas flare is a malady that we must work together to eliminate at the shortest time possible because of its adverse effects on the environment and socio-economic well-being of the people of Niger Delta region as well as on the fiscal measures of the federal government. At current estimates by Price Water House Coopers (PwC), Nigeria loses over $750 million in annual revenue from flared gas.

”Zero-flare gas deadlines have routinely shifted to future dates. We thus commend the government for the 2018 gas flare regulation, which imposes the penalty of $2 per million standard cubic feet (MMSCF) of gas flared. Still, we would like to stress the need for compliance with the provisions of the penalty regime. Since the gas flare regulation was released in 2018, this committee has received reports on flare volume discrepancies.”

Earlier, while declaring the event open, the Speaker of the House, Hon. Femi Gbajabiamila, had said though there had been many unfruitful conversations about achieving the objective, the House was committed to changing the narrative.

According to him, this will be done through legislative action such as bills and oversight function.

He said: ”The conversation about gas flaring in Nigeria has been going on for a long time. “Unfortunately, those conversations have not yielded the desired results. We have not managed to end the environmental damage that results from gas flaring and we are still deprived of the economic benefits of full utilisation of gas resources in our country. In this 9th House of Representatives, we intend to do everything we can to change this narrative.”

The President of Host Communities, Chief Benjamin Tamaranebi, in his presentation, apologised for the fight that broke out last month at the Petroleum Industry Bill (PIB) public hearing.

Tamaranebi while describing the fight as a calculated attempt to stop the voice of the ordinary host communities, lamented that they are suffering from the emission of poisonous substances into their environment, by the oil and gas industry.

Tags: Gas Flaring
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2020 Arise News - Part of the Arise Media Group.

No Result
View All Result
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates

© 2020 Arise News - Part of the Arise Media Group.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist