800 Companies Jostle To Manage 176 Gas Flare Sites In Nigeria

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said that no fewer than 800 companies are interested to manage  176 gas flare sites in the country.

Kachikwu  who told newsmen in Abuja on Thursday said   government had received bids of 226 bidders that paid the stipulated fees out of the 800 companies that expressed interest in managing the sites.

According to him, the government was working hard to stop gas flaring in the country by the year 2020, 10 years ahead of the United nation’s deadline.

“Over 800 companies have expressed interest to manage about 176 gas flare sites and out of the total companies, about 226 have paid the stipulated fees and their bids had been received,” he said.

He said that it was unfortunate that Nigeria had over the years failed to properly utilize its gas resources for the development of the economy.

The Minister noted that the country is yet to use the tonnes of gas resources it has to achieve industrialisation and agricultural development, especially through fertilizer production.

He bemoaned the fact that a significant volume of gas produced in the country was flared, depriving the country the benefits that could have been accrued from the resources.