The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned beneficiaries of flare gas sites that they risk losing their awards if they fail to demonstrate significant progress in utilising the resources.
NUPRC Chief Executive, Mrs. Oritsemeyiwa Eyesan, issued the warning during a working visit to the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, in Abuja.
According to a statement by the Commission’s Head of Corporate Communications and Media, Mr. Eniola Akinkuotu, Eyesan said the NUPRC would assess the performance of awardees one year after each award is granted.
She said where insufficient progress is recorded, the Commission would take appropriate regulatory action, including revocation of the award where necessary.
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Eyesan disclosed that 43 flare gas sites were initially identified under the Nigerian Gas Flare Commercialisation Programme (NGFCP), with 27 already awarded and implementation ongoing.
She also said Nigeria’s estimated 215 trillion cubic feet (TCF) of proven gas reserves, alongside an estimated total reserve base of about 600 TCF, provides significant opportunities for power generation, industrialisation, exports and economic growth.
On the Host Community Development Trusts established under the Petroleum Industry Act, Eyesan said 173 trusts had been incorporated and 147 funded, with more than 1,001 projects ongoing and over 200 already commissioned.
Meanwhile, Ekpo urged stakeholders to accelerate the implementation of the gas commercialisation programme to help Nigeria achieve its 2030 target of ending routine gas flaring.
The minister stressed the need to convert gas currently being flared into productive goods and services, saying Nigeria must shift from environmental pollution to sustainable resource utilisation.
