The Senate said on Wednesday that Nigeria accounts for over 40 per cent of the gas flared annually across Africa, which amounts to about $7 billion in waste, Vanguard reports.
It also declared Nigeria was losing over $2.5 billion to gas-flaring annually and that the country also accounts for an estimated two billion standard cubic feet of flared gas, which amounts to about 19 per cent of gas flared globally. The upper legislative chamber has, therefore, set in motion a machinery to repeal the 39-year-old law which recommends only N10 as fine for gas flaring.
Declaring open a public hearing on Gas Flaring (Prohibition) Bill 2017, Senate President, Dr Bukola Saraki, noted that gas-flaring remained a matter of great national embarrassment to the country. According to him, only God knows how many of Nigeria’s citizens have lost their lives as a result of gas-flaring.