Nigeria is launching a major initiative to transform wasted natural gas into economic and environmental gain. The government has granted licenses to 28 firms to capture flared gas, a byproduct of oil production that is currently burned off into the atmosphere.
The initiative, announced by the country’s oil regulator, is expected to attract about $2 billion in investment while supporting Nigeria’s push toward a market-led net-zero strategy.
By allowing firms to access flared gas, authorities aim to reduce carbon emissions by approximately 6 million metric tons annually and create more than 100,000 jobs. The licensed companies are projected to recover up to 300 million standard cubic feet of gas per day, converting it into liquefied petroleum gas for domestic and industrial use. If successful, the plan could reshape Nigeria’s energy and climate ambitions.