The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has stated that the country is ready to transform wasted energy into productive solutions.
Speaking at the Nigerian Gas Flare Commercialisation Programme (NGFCP) 2022 Investors’ Forum, Komolafe said the programme is important to the realisation of Nigeria’s Energy Transition Plan in achieving its Net Zero Carbon emissions.
He added that the NGFCP is the primary goal of eliminating gas flaring through economically viable solutions, transforming a wasteful environmental challenge into a substantial economic opportunity.
“Through this programme, flare gas sites are awarded to competent third-party companies that are to harness this resource for value derivation. The opportunity before us is immense as the captured flared gas can be used for electricity generation, fertiliser and methanol production and feedstock for local industries. These, in addition to improving host community relations, environmental sustainability, building local content capacity, creating employment opportunities, and encouraging increased capital inflow to the sector,” he said.
He said the theme of the forum, ‘One Goal – One Team’, represents its unified commitment to decarbonisation and achieving net zero emissions.
