The Minister of State for Petroleum, Ibe Kachikwu has informed of a plan by Federal Government to end gas flaring by the year 2020, ten years ahead of United Nation’s deadline.
Kachikwu said no fewer than 800 companies have bid for management of 176 gas flare sites in the country adding that government had received bids of 226 bidders that paid the stipulated fees out of the 800 companies that expressed interest in managing the sites.
He said that it was unfortunate that Nigeria had over the years failed to properly utilise its gas resources for the development of the economy.
According to him, the country is yet to use the tonnes of gas resources it has to achieve industrialisation and agricultural development, primarily through fertiliser production.
He bemoaned the fact that a significant volume of gas produced in the country was flared, depriving the country the benefits that could have been accrued.