Nigeria has reportedly lost approximately 20,100 Gigawatts per hour of potential power generation due to persistent gas flaring by oil companies in the first nine months of 2024. This figure marks a 5.5% increase compared to the 19,000 Gigawatts lost during the same period in 2023.
The ongoing gas flaring issues are contributing to Nigeria’s struggle to generate more than 4,000 megawatts (MW) of electricity, as the limited gas supply available to Electricity Generation Companies (GENCOs) hampers production.
According to the latest report from the National Oil Spill Detection and Response Agency (NOSDRA), gas flaring in Nigeria increased by 8% in the past nine months, rising to 200.5 million standard cubic feet (MSCF) from 190.2 million MSCF in 2023. The monetary value of this flared gas during the reporting period is estimated at $701.8 million, with defaulting companies, including International Oil Companies (IOCs), facing potential fines of $401 million.
NOSDRA’s breakdown indicates that onshore flaring rose by 10% to 105.5 million MSCF, while offshore flaring accounted for 95 million MSCF. The flared gas is equivalent to carbon dioxide emissions of approximately 10.7 million tonnes.
Despite efforts to mitigate gas flaring since the 1950s, the practice continues to be a significant environmental concern, releasing harmful gases into the atmosphere. This ongoing issue is also linked to the likelihood of further grid collapses in Nigeria, attributed to inadequate gas supply to power plants.