One of the key challenges facing Nigeria’s petroleum industry is transparency and access to information, and the introduction of this legislation that would clarify matters for all players in the industry can only be hailed as a positive step forward. In addition to establishing a ‘more robust, accountable and transparent oil and gas industry’, Tolu Aderemi, a solicitor at Perchstone & Graeys, Lagos, believes that the PIB would also serve to ‘consolidate a plethora of laws, statutes and regulations which regulate the Nigerian oil and gas industry’ and would, if passed, reform, review and streamline existing legislation, in order to deliver a fair, economic return for Nigeria as well as for investors. (excerpt from an article on the International Bar Association website)
The World Bank estimates that Nigeria loses $2.5billion yearly to gas flare, apart from the attendant destruction of the environment, through greenhouse gas emission.
A programme, originally scheduled to commence in January 2011, was envisaged to eliminate flare by building gas processing plants for Liquefied Petroleum Gas (LPG), and lean gas for power generation, as well as fertiliser and chemical plants (more details on a previous post).
This video filmed in the Niger Delta shows the problems tied with the gas flaring.
This map shows most of the locations where the video Poison Fire was filmed
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