TAMING THE PLAGUE OF GAS-FLARING AND THE WAY FORWARD. June 08, 2023

According to Vanguard Business of June 07, 2023, quoting a report by the National Oil Spill Detection and Response Agency, NOSDRA, "Oil and gas companies operating in Nigeria flared 92.3 million standard cubic feet, mscf, of gas, worth an estimated N150 billion between January and April 2023,

"The report also noted that the volume of gas flared in the four-month period is equivalent to 4.9 million tons of carbon dioxide emission and has a power generation potential of 9,200 gigawatts of electricity per hour." Vanguard Business, June 07, 2023

Gas flaring is more than burning away the wealth of a nation. It is impossible to quantify the irreparable harm to our ecosystem. We cannot put a price on that.

I firmly believe carbon pricing or emissions trading systems are tantamount to granting licenses to wealthy nations or business entities to continue to perpetrate harm on the environment.

It doesn't encourage low-carbon growth or lower greenhouse gas emissions as the UN Global Compact anticipated or would want us to believe. It is a measure, nevertheless, compelled by a sense of helplessness. And I pray it works.

The development of green energy or renewable energy cannot eliminate the scourge of fossil fuels or gas flaring in the near future. The world has found a better use for gas; therefore, we should channel more funding into the industry to ensure perfection in the purification, liquefying, and storage processes.

VANGUARDNGR.COM

Nigeria loses N150bn to gas flaring in 4 months

Oil and gas companies operating in Nigeria flared 92.3 million stan