Nigeria Wastes $205.7 Million Worth of Gas Amid Power Shortages

Amidst a nationwide energy crisis plaguing Nigeria, the country finds itself in a paradoxical situation as abundant natural gas resources intended to alleviate power shortages are instead being squandered through flaring, leaving millions of homes without electricity.

According to recent findings, Nigeria flared natural gas estimated at $205.7 million in the first two months of 2024 alone, exacerbating the country’s already dire energy woes.

Data sourced from the Nigerian gas flare tracker of the National Oil Spill Detection and Response Agency (NOSDRA) revealed that approximately 58.8 million standard cubic feet of gas were flared during this period with a power generation potential of 4,040 megawatts (MW).

This colossal wastage of gas comes at a time when Nigeria’s installed generating capacity stands at about 13,014.14MW, yet its operational capacity hovers around a mere 4,000MW, highlighting the acute challenges facing the energy sector.

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

The collapse of the national grid last Thursday left swathes of the nation engulfed in darkness, disrupting daily activities and exacerbating the already challenging living conditions for many Nigerians.

Experts emphasize the urgent need for gas commercialization, proper regulation, and infrastructural development to capture and utilize flared gas efficiently.

Failure to address this issue not only perpetuates environmental degradation but also translates into significant economic losses for Nigeria.

As the nation grapples with its energy crisis, urgent action is imperative to harness its abundant natural resources effectively and ensure reliable power supply for its citizens.