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Gas flaring: FG entices investors to purchase 50 clusters

Gas flaring: FG entices investors to purchase 50 clusters

The Nigerian Gas Flare Commercialization Programme, or NGFCP, is the federal government’s initiative to encourage investors to purchase 50 gas-flaring clusters in the Niger Delta.

According to checks, the government has already reached out to several possible investors in Europe and the US, and initiatives are being made to meet with some groups in Canada.

The government made the gesture because it believes that potential investors, who are expected to work with their domestic counterparts, hold the key to success, particularly because they have the necessary technologies, resources, and expertise to invest in the project following the country’s Petroleum Industry Act or PIA.

President Muhammadu Buhari has already stated a commitment to putting an end to gas flaring, according to NUPRC Chief Executive Gbenga Komolafe, who verified the situation in a telephone chat yesterday. As an organization, they are putting this project into action to achieve the goals, which include harnessing more energy for domestic use, creating jobs, transferring technologies, and making the shift to clean energy.

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It demonstrated that new efforts were made to restructure and relaunch the program in August 2022, guaranteeing end-to-end value was established, when the PIA and NUPRC emerged.

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