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The Programme Manager, National Gas Flare Commercialisation Programme (NGFCP), Federal Ministry of Petroleum Resources, Justice Derefaka has disclosed that Nigeria loses approximately $1 billion of revenue through gas flaring, due to its inability to capture and commercialise flared gas in the country.

He further stated that if flared gas is properly exploited, it has the potential to create 300,000 jobs, produce 600,000 MT of LPG per year and generate 2.5 GW of power from new and existing IPPs, as approximately 700mmscf/d is flared at 178 flare sites in Nigeria.

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The Federal Government is seeking investors that would be off- takers of the gas being flared by joint venture companies in order to save the country some $800million losses it suffers annually.

According Justice Derefaka, programme manager Nigerian Gas Flare commercialisation programme (NGCP) in the office of the Minister of Petroleum Resources, who disclosed this on the sideline of the ongoing West African International Petroleum Exhibition and conference holding in Lagos, the government is ready to invoke the section of the Petroleum Act which gives the minister of Petroleum Resources the power to take the gas being flared and commercialise it.

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The Programme Manager, National Gas Flare Commercialisation Programme (NGFCP), Federal Ministry of Petroleum Resources, Justice Derefaka has disclosed that Nigeria loses approximately $1 billion of revenue through gas flaring, due to its inability to capture and commercialise flared gas in the country.

He further stated that if flared gas is properly exploited, it has the potential to create 300,000 jobs, produce 600,000 MT of LPG per year and generate 2.5 GW of power from new and existing IPPs, as approximately 700mmscf/d is flared at 178 flare sites in Nigeria.

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The Ijaw Youth Council (IYC) has again called on the Federal Government and oil and gas companies operating in the Niger Delta region to end the incessant gas flaring by 2020.
 
A statement signed by its spokesman, Daniel Dasimaka, urged the Federal Government to effectively utilise the commercial benefits of the gas that is being flared in the region.

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Speaking at the Gas Aggregation Buyers Forum organised by the Gas Aggregation Company of Nigeria Limited in Abuja on Wednesday, the Programme Manager, Nigerian Gas Flare Commercialisation Programme, Office of the Minister of State for Petroleum Resources, Mr. Justice Derefaka, said latest findings had revealed more gas flare sites in the country. 

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On behalf of the Federal Government of Nigeria, this programme seeks to attract investments and develop a transparent market mechanism through a competitive procurement process for allocating gas flares, under clear and transparent criteria, to competent third party investors using proven technologies in commercial application globally. The Nigerian Gas Flare Commercialization Programme (NGFCP) is an opportunity for Government, industry, State Government, ethnic nationalities, and local communities to work together to resolve an oil field unacceptable practice.