Nigerian House of Representatives Launches Probe

Nigerian House of Representatives Launches Probe into $9.05 Billion Gas Flaring Revenue Loss

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Ad hoc Committee Inauguration

The Speaker of the House of Representatives, Rep. Tajudeen Abbas, inaugurated an Ad hoc Committee tasked with investigating the alleged revenue loss of $9.05 billion from gas flaring in Nigeria over the last decade. The committee’s objective is to uncover the root causes of gas flaring and provide recommendations to put an end to this environmental and economic menace.

Urgent Need to Address Environmental and Economic Impacts

The probe acknowledges the urgent need to understand and mitigate the adverse environmental, social, and economic impacts caused by gas flaring. It is estimated that Nigeria loses about $2.5 billion annually due to this harmful practice, which contributes to climate change, environmental degradation, and waste of valuable energy resources.

Summoning Oil and Gas Companies

The House of Representatives committee invited several major oil and gas companies, including Total/Mobil, Total/Oando JV, Total Energies, Ardova PLC, Azman Oil and Gas Limited, and others, to appear before the committee and provide their full submissions on the issue. The committee aims to ensure a fair hearing and hold all involved parties accountable for addressing the problem of gas flaring.

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