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.