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Nigeria intends to sign the United Nations Agreement on Zero Routing Gas Flaring by 2030, Vice President, Yemi Osinbajo, said on Monday, adding that the executive would need the support of the National Assembly. Nigeria had set an earlier national target of 2020 to end gas flaring in the country.
Mr. Osinbajo was speaking at the opening of the 6th African Petroleum Congress and Exhibition where he represented President Muhammadu Buhari.
The VP said ending gas flaring is an imperative for African oil producers considering the amount of waste involved.
He called on African countries to take advantage of the gas-to-power potentials.
“It’s time to take a much further stand on gas flaring, both from environmental and a waste-of-needed-resources perspectives,” the Vice President told the gathering made up of oil and energy ministers from several African countries and chieftains in the oil and gas sector.
“If Africa must meet her future energy needs, the issue of the development of a robust gas infrastructure must be jointly addressed.”
According to him, of the over 150 billion cubit metres of associated gas flared annually in the world, “Africa flares an estimated 40 billion cubit metres, while about half of that is flared by Nigeria.”
He recognised that Nigeria is blessed with the 7th largest deposit of gas in the world with reserves estimated at over 185 trillion cubic feet (TCF), and also the highest quality.