The Nigeria Extractive Industries Transparency Initiative (NEITI) has voiced deep concern over the staggering volume of gas flared in 2023, which amounted to 183.408 billion standard cubic feet (SCF).
Speaking at a high-level policy dialogue in Abuja, the Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji, revealed that the economic value of the wasted gas is estimated at $458.52 million (N685.95 billion).
Dr Orji warned that if such losses continue unchecked, the country could forfeit over $2.29 billion (N3.43 trillion) in just five years—funds that could significantly boost investment in education, healthcare, infrastructure, and climate resilience programs for host communities.
“This is not just an economic issue—it’s an environmental and social one. Nigeria cannot claim seriousness on climate commitments if we ignore the silent crisis of methane pollution across our extractive industries,” Orji stated.
He also highlighted the potency of methane, noting that it is over 80 times more harmful than carbon dioxide in terms of global warming impact.
To address the crisis, NEITI is calling for a robust and enforceable methane governance policy, aligned with international best practices. Orji emphasized that the era of business-as-usual in methane emissions management is over, urging a shift towards transparency and accountability in the sector.
