The Nigerian Upstream Petroleum Regulatory Fee (NUPRC) has issued permits to twenty-eight firms beneath the Nigerian Flare Gasoline Commercialisation Programme (NGFCP), marking a big step to finish routine gasoline flaring and advance local weather commitments.
The profitable awardees had been: Ace Power Restricted, Afagaf Firm Restricted, AGH Lero, Almina Sources Restricted, Amazon Power Restricted, AUT Power, Beluga Asiko, Bodej Funding Restricted, Cainergy Restricted and Cimcmonobuo Nigeria Restricted.
The awardees additionally included Dawcon Consortium, Dawnwatch Restricted, Fargab Restricted, Folstaj Worldwide Restricted, Geospectra Power Restricted, Izzi Mission Restricted, and MMLet Power Restricted.
Others had been: MSN Consortium, Newgaz Built-in Companies Restricted, NG Lyon Development Restricted, Oaks Cluster Power, Seal Power Restricted, Tecnis EPS Worldwide Restricted, Teobell Worldwide, Phrases Energies, Zipora Gasoline, and Stelog Gasoline Firm Restricted.
Talking on the allow issuance ceremony in Abuja, the Fee Chief Govt, Mr Gbenga Komolafe, described the event as a strategic level in Nigeria’s power transition journey.
NGFCP, re-inaugurated in 2022, goals to get rid of routine flaring by allocating flare websites to certified third-party firms.
This provides the businesses the capability to commercialise gasoline for energy technology, petrochemicals, fertiliser manufacturing, Liquefied Petroleum Gasoline (LPG) provide, and industrial use.
Komolafe mentioned the NGFCP remained one among Nigeria’s most vital local weather motion initiatives, designed to transform wasted flare gasoline into financial worth whereas decreasing environmental affect.
He mentioned the permits issued beneath the 2020–2021 flare gasoline commercialisation bid spherical signified the shift from many years of operational challenges to a commercially pushed mannequin that might improve power safety and enhance business effectivity.
“From 300 preliminary expressions of curiosity, 139 candidates certified for the RFP stage.
“Following a aggressive and clear analysis course of, 42 profitable bidders had been awarded 49 flare websites, an achievement broadly recognised for its integrity and rigour.
“Immediately, we’re happy to announce that 28 awardees have totally executed the required suite of business agreements, which embody the Connection Agreements, Milestone Growth Agreements, and Gasoline Gross sales Agreements; and now qualify to obtain the Allow to Entry Flare Gasoline.
“These entities symbolize a robust mix of operational functionality, monetary readiness, and technological competence,” Komolafe mentioned.
He acknowledged that the redesigned programme had strengthened business viability and regulatory consistency, following disruptions attributable to COVID-19 and the implementation of the Petroleum Trade Act (PIA).
Highlighting the anticipated affect of the programme, Komolafe acknowledged that between 250–300 million customary cubic ft of gasoline presently flared each day shall be captured and commercialised.
“Nigeria will reduce an estimated six million tonnes of Carbon Dioxide (CO₂) emissions yearly, whereas as much as two billion {dollars} in new investments is anticipated.
“Greater than 100,000 jobs (direct and oblique) are anticipated to be created and about 170,000 metric tonnes of LPG shall be added yearly, offering clear power entry to 1.4 million households.
“Practically three gigawatts of power-generation potential could be unlocked,” the CCE mentioned.
He additionally acknowledged the help of improvement companions together with the World Financial institution, Energy Africa, USAID, the U.S. Division of Power, KPMG, and a number of other monetary establishments for his or her technical, business, and capacity-building contributions.
Komolafe emphasised that the issuance of permits marks the start and never the tip of mission execution.
He urged the awardees to speed up work on engineering, development, financing, and commissioning, assuring them of steady regulatory help.
“The worth of this programme shall be realised solely by means of disciplined mission supply,” he mentioned.
“Collectively, we are going to proceed to advance Nigeria’s upstream petroleum sector in direction of larger transparency, effectivity, sustainability, and world competitiveness,” he mentioned. (NAN)(www.nannews.ng)
Edited by Bashir Rabe Mani
