The House of Representatives has pledged to recover over $9 billion in unpaid gas flaring penalties from oil and gas companies operating in Nigeria. Ahmed Munir, Chairman of the Ad-hoc Committee on Gas Flaring, announced this during a briefing in Abuja, attended by key stakeholders like the Ministry of Environment, NOSDRA, and RMAFC.
Munir criticized the companies for ignoring regulations and vowed that the House would ensure compliance and recover unpaid fines. He also highlighted the importance of enforcing the Petroleum Industry Act (PIA) to close loopholes and tighten oversight.
Stakeholders revealed major discrepancies in reported data. NOSDRA’s records showed $320.6 million in gas flare penalties, while NUPRC reported just $43.3 million, creating a $277 million revenue gap.
Speaker Tajudeen Abbas, represented by Chief Whip Usman Kumo, warned that gas flaring not only wastes valuable resources but also causes environmental damage, health risks, and economic losses. Nigeria loses around $2.5 billion annually to gas flaring, which affects local communities and contributes to climate change.
To address these issues, the committee will summon CEOs of 19 oil companies to explain their actions and discrepancies in their records. The House is determined to enforce stricter rules and ensure better use of gas resources in the future.
