April 23, 2024

Pathfinder News

redefining news

Nigeria Flares $205.7m Gas In 2 Months

Amid a nationwide energy crisis, Nigeria finds itself grappling with a peculiar irony as gas meant to alleviate power shortages is instead being wasted through flaring, leaving hundreds of thousands of homes without electricity.

Natural gas estimated at $205.7 million and capable of powering four million households was flared in Nigeria in the first two months of 2024.

Data obtained from the Nigerian gas flare tracker of the National Oil Spill Detection and Response Agency (NOSDRA), showed the country flared about 58.8 million standard cubic feet (Mscf) in the first two months of this year with a power generation potential of 4.04 thousand megawatts (MW).

“The rule of thumb for an industrial nation is about 1MW for every thousand population,” PricewaterhouseCoopers said in a report titled Privatisation in the power sector Navigating the Transition.

With an installed generating capacity of about 13,014.14MW and an operating capacity of circa 4,000MW, according to data gleaned from the Nigeria Electricity System Operator, electric power is still a major hindrance in the country.

Nigeria, Africa’s largest oil producer, is no stranger to energy challenges. However, the recent spate of blackouts has highlighted the inefficiencies plaguing the country’s energy sector.