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Nigeria set to miss the gas flare target.
- Retains 7th position in top ten gas flaring nations
Nigeria is once again set to miss its target to stop gas flaring in the country by 2025. This comes as it has retained its position as the 7th gas flaring country in the world. According to a report by Africa Energy Portal, Nigeria currently losses $2.5 billion annually to gas flaring and is that amount is expected to rise to $9 trillion in the next 10 years.
The Deputy Petroleum Ministry, Timipre Sylva, had earlier this year reiterated the commitment of the Federal Government to put an end to gas flaring in the country. As a result, Nigeria had “….actually reduced gas flaring significantly to a very minimal level of eight per cent. If you all recall, last year the ministry of petroleum started what we call the National Gas Expansion Programme, and we declared 2020 as the year of gas”, Sylva stated.
“At the beginning of this year, we declared 2021, the beginning of the gas decade. We believe that with all the programmes we have in place, we are on course to achieve complete elimination of gas flaring by 2025”, Sylva added.
Nigeria has retained its position as the 7th gas flaring country in the world for nine consecutive years.