The House of Representatives has launched an investigation into oil corporations operating in the Niger Delta region over $9.05 billion in income lost due to gas flaring in Nigeria.
Tajudeen Abbass, the Speaker of the House, said this at the Ad-hoc Committee’s inauguration on Monday.
According to Tajudeen, Nigeria loses close to $2.5 billion each year due to gas flaring.
“The flared gas represents revenue that could have been generated by selling or using it.” “According to official records, we lose about 2.5 billion dollars per year due to gas flaring,” he remarked.
He appointed the Chairman of the Committee, Rep. Babba Munir (APC-Kaduna State), and other members to help reduce the recurring economic losses caused by gas flaring.
As a result, the Committee stated that Total/Mobil V Domestic, Total/Oando Joint Venture, Total Energies, African Petroleum Pic., now Ardova PLC, and other oil businesses should testify before or on Tuesday.