Nigeria has lost a significant amount of electricity due to gas flaring by oil companies. According to the National Oil Spill Detection and Response Agency (NOSDRA), the country lost 26,200 Gigawatts per hour of electricity between January and November this year. This is equivalent to the power needed to supply 7.5 million homes.
Key Impacts of Gas Flaring
- Economic Losses: The monetary value of the flared gas is estimated at $917.3 million.
- Environmental Impact: Gas flaring has resulted in the emission of 13.9 million tonnes of carbon dioxide.
- Fines and Penalties: Defaulting companies are liable to fines amounting to $524.2 million.
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Efforts to Address Gas Flaring
A bill sponsored by a member of the House of Representatives, Babajimi Benson, aims to prohibit gas flaring except in strictly regulated circumstances. The bill proposes severe sanctions for violators, including fines and potential suspension of operations.
