February 28, 2024
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Nigerian Government Loses N847 Billion to Gas Flaring: A Costly Environmental Hazard

Nigerian Government Loses N847 Billion to Gas Flaring: A Costly Environmental Hazard

The Nigerian government lost N847 billion to gas flaring between January 2022 and August 2023, according to the National Oil Spills Detection and Response Agency (NOSDRA). This is a significant loss of revenue, and it is also a major environmental hazard.

Gas flaring is the burning of natural gas that is produced along with oil. It is a common practice in the oil and gas industry, but it is also a very wasteful one. Gas flaring releases harmful pollutants into the atmosphere, and it also contributes to climate change.

The Nigerian government has pledged to reduce gas flaring, and it has set a target of zero gas flaring by 2025. However, progress has been slow, and gas flaring continues to be a major problem in Nigeria.

The loss of N847 billion to gas flaring in 2022 is a stark reminder of the cost of gas flaring. This money could have been used to fund important development projects, such as education, healthcare, and infrastructure.

The Nigerian government needs to take urgent action to reduce gas flaring. This could involve investing in gas capture and utilization technologies, imposing stricter penalties on oil and gas companies that flare gas, and working with international partners to develop a global plan to reduce gas flaring.

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In addition to the economic costs, gas flaring also has a significant impact on human health and the environment. Gas flaring releases harmful pollutants into the atmosphere, such as carbon monoxide, nitrogen oxides, and sulfur dioxide. These pollutants can cause a variety of health problems, including respiratory infections, heart disease, and cancer.

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Gas flaring also contributes to climate change. Methane, a major component of natural gas, is a greenhouse gas that is 25 times more potent than carbon dioxide at trapping heat in the atmosphere. Gas flaring releases methane into the atmosphere, which contributes to global warming.

The Nigerian government has a responsibility to its citizens and to the world to take action to reduce gas flaring. Reducing gas flaring would improve air quality, protect human health, and reduce greenhouse gas emissions.

Read also: 5 Benefits of Converting PMS Vehicles to CNG in Nigeria

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Nigerian Government Loses N847 Billion to Gas Flaring: A Costly Environmental Hazard

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