Despite Federal Governments efforts to curb the menace of gas flaring, Nigeria lost 15,400 Gigawatts, GWh per hour of power generation potential in five months, between January and May 2025.
This represents a 17.5 per cent increase, when compared to 12,700 GWh, generation losses suffered in the corresponding period of 2024.
Data obtained from the latest report of the National Oil Spill Detection and Response Agency, NOSDRA, put the monetary value of the 539.2 million mscf flared gas during the period at 154.1 million.
According to NOSDRA, the defaulting companies, including the International Oil Companies, IOCs, were liable to fines amounting to 308.1 million about N318.3 billion.