The Nigerian Upstream Petroleum Regulatory Fee on Tuesday, stated plans are underway to finish fuel flaring in 2030.
The NUPRC Chief Govt Officer, Gbenga Komolafe, disclosed this whereas delivering his speech on the eighth Sub-Saharan Africa Worldwide Petroleum Exhibition and Convention holding in Lagos.
In line with Komolafe, the NUPRC “is successfully spearheading the nationwide drive to realize the zero-flare goal by 2030 and internet zero carbon emissions by 2060”.
This, he stated, could be achieved by means of a number of initiatives, together with the Nigeria Gasoline-Flare Commercialisation Programme.
The NUPRC boss defined that Nigeria is on observe to satisfy its environmental stewardship obligations.
He acknowledged that evaluation of the European Union’s Emissions Database for World Atmospheric Analysis database reveals that “Nigeria occupies a distant one hundred and sixty fifth place within the international rating of high emitters, with a greenhouse fuel emissions per capita at 1.88 tonnes Carbon dioxide equal per capita per 12 months, representing simply 0.13 % of the worldwide complete”.
Komolafe stated, nonetheless, that “regardless of the low emissions, we’re not resting on our oars”.
The PUNCH stories that Gasoline valued at $1.9bn was flared in Nigeria between 2020 and 2024, in response to the Nigerian Gasoline Flare Tracker.
The Nigerian Gasoline Flare Tracker acknowledged that through the interval underneath assessment, 595.1 million customary cubic ft of fuel had been flared in Rivers, Delta, Imo, Edo, Akwa Ibom, Bayelsa, Anambra, Abia and Lagos States.
The World Financial institution described fuel flaring because the burning of pure fuel related to oil extraction.
Gasoline flaring continues to development in Nigeria, regardless of cries of fuel shortage by electricity-generating firms.
Whereas addressing delegates at SAIPEC, Komolafe famous that Nigeria holds promise for Africa and has the potential to emerge as a superpower given its strategic geopolitical significance, massive market measurement of over 200 million individuals, teeming youth inhabitants, ample pure and power assets in the right combination, and the myriads of funding alternatives therein.
Nevertheless, he held that the realisation of this potential “will depend upon how successfully we tackle our challenges and leverage our strengths within the coming years”.
He urged members to just accept the convention as a name for motion, and a cost for “enhanced collaboration and regional integration in unlocking our huge alternatives”.