The Nigeria Extractive Industries Transparency Initiative (NEITI) has raised the alarm over the country’s persistent gas flaring, revealing that 183.408 billion standard cubic feet (SCF) of gas was flared in 2023 alone.
This volume of gas, according to NEITI, translates to an economic loss of $458.52 million, or approximately N685.95 billion.
Speaking during a high-level policy dialogue in Abuja, NEITI’s Executive Secretary, Dr. Orji Ogbonnaya Orji, cautioned that if such losses continue unchecked, Nigeria could forfeit over $2.29 billion or N3.43 trillion within the next five years.
He stressed that these are vital funds that could be channelled into education, healthcare, infrastructure, and climate resilience projects in host communities.
Dr. Orji called for urgent and decisive policy action to institutionalise a robust, enforceable, and transparent methane governance regime, aligned with global best practices. He warned that the era of “business-as-usual” in managing methane emissions must come to an end.
“Methane is over 80 times more potent than carbon dioxide in driving global warming,” Orji explained. “Nigeria cannot claim to be serious about its climate commitments while ignoring the silent crisis of methane pollution in our extractive industries. Methane action is climate action, economic action, and a matter of social justice.”
To address this, NEITI has adopted a new Energy Transition and Climate Accountability Framework. This framework includes mandatory tracking of greenhouse gas emissions and climate risks, independent oversight of oil company divestments, monitoring of Host Community Development Trusts as stipulated under the Petroleum Industry Act (PIA), and aligning NEITI’s audit cycles with Nigeria’s Nationally Determined Contributions (NDCs).
Dr. Orji noted that NEITI has already incorporated methane and greenhouse gas disclosures into its 2022 and 2023 industry audit reports, with 15 companies submitting emissions data so far.
Also speaking at the event, Chairman of the House Committee on Gas Resources, Hon. Mutu Nicholas Ebomo, reaffirmed the National Assembly’s commitment to balancing economic gains from the gas sector with environmental sustainability.
“We are fully committed to partnering with stakeholders—government, civil society, development partners, and the private sector—to establish a transparent, accountable, and enforceable framework across the gas value chain,” he said.
In a goodwill message, Ms. Tengi George Ikoli, Senior Country Officer at the Natural Resource Governance Institute (NRGI), praised Nigeria for its national and international commitments to environmental governance, noting that meaningful reforms are taking shape.
