- Komolafe explained that 42 companies emerged successful out of 49 flare sites auctioned
- He added that the programme would also unlock close to three gigawatts of electricity generation capacity
- He assured stakeholders that the commission would continue to provide regulatory oversight and support to ensure transparency
The Federal Government has projected the creation of over 100,000 jobs through the Nigerian Gas Flare Commercialisation Programme (NGFCP) following the approval of flare gas permits for dozens of companies.
Eko Hot Blog reports that the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, disclosed this on Friday in Abuja during the Permit to Access Flare Gas award ceremony for the 2022 NGFCP cycle.
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Komolafe explained that 42 companies emerged successful out of 49 flare sites auctioned, enabling the capture and commercialisation of between 250 and 300 million standard cubic feet of gas currently wasted through flaring.
According to him, the initiative is expected to attract investments valued at about $2 billion, produce roughly 170,000 metric tonnes of liquefied petroleum gas annually, and supply clean cooking energy to approximately 1.4 million households nationwide.
He added that the programme would also unlock close to three gigawatts of electricity generation capacity while cutting carbon dioxide emissions by an estimated six million tonnes each year.
While describing the permit awards as a significant milestone, Komolafe cautioned that the long-term success of the programme would depend on strict adherence to project timelines and effective implementation by all awardees.
He assured stakeholders that the commission would continue to provide regulatory oversight and support to ensure transparency, sustainability and global competitiveness in Nigeria’s upstream petroleum sector.
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