Nigeria is losing $750 million annually to gas flaring, said a report by PricewaterhouseCoopers (PwC).
Chairman of the House of Representatives Committee on Gas Resources, Environment and Climate Change, Rep. Mutiu Nicholas Ebomo, disclosed this at a public hearing by the committee yesterday, noting that gas flaring is a great challenge that requires collective work to be eliminated.
"Gas flaring releases toxins into the atmosphere, increasing carbon emission and greenhouse gases with the attendant climate change consequences to our environment.
"Thus, flared gas is an enormous health, safety and environmental hazard to the peoples of the Niger Delta region and beyond.
"Investigations show that over 250 identified toxins and metals are released in the region from gas flaring," he said.
The Minister of State for Petroleum Resources, Timypre Sylva, at the hearing said the ministry has made efforts to reduce gas flaring to eight per cent, adding that the federal government is committing to zero gas flaring by 2025.
"The issue of gas flaring is something that the ministry takes very seriously. There is a global consensus on the elimination of gas flaring by 2025."
Speaker Femi Gbajabiamila, who was represented by Rep. Luke Aniofek, said the joint committee is to investigate the level of devastation caused by gas flaring.
"In this 9th House of Representatives, we intend to do everything we can to change this narrative," he said.