800 companies bid for 176 Nigeria’s gas flare sites — Kachikwu - Premium Times Nigeria

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800 companies bid for 176 Nigeria’s gas flare sites — Kachikwu

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

He said it was unfortunate that Nigeria had over the years failed to properly utilise its gas resources for the development of the economy. “Premised on the foregoing, the policy position of His Excellency, President Muhammad Buhari, is that gas flaring is totally unacceptable. “The Federal Executive Council in June 2016, approved the Nigerian Gas Flare Commercialisation Programme, NGFCP,” he said.

He added that the current framework would be retained for a limited period until a sufficient gas market is established. He noted that the NGFCP was designed as a strategy to implement the policy objectives of the federal government for the elimination of gas flares with potentially enormous multiplier and development outcomes for Nigeria.

 

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This is laughable.. lol When we are still exporting our crude oil, to be refine while Nigerians watch their refineries rust. Maybe, they want to make it -- a scrap for immediate sell-off after their '4yrs.' It will only work in Niger not in Nigeria!

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