Nigeria loses N217bn annually as Senate proposes stiffer sanctions for gas flaring from 2021

Nigeria loses N217bn annually as Senate proposes stiffer sanctions for gas flaring from 2021 The Senate on Thursday considered a bill which proposes stiffer sanctions for any person or corporate entity involved in gas flaring in Nigeria from January 1, 2021. The Gas Flaring (Prohibition and Punishment) Bill, 2020, which scaled second reading during plenary, was sponsored by Senator Albert Bassey Akpan (Akwa-Ibom North East). Clause 11(a) of the bill provides that, “Any person who flares gas after December 31, 2020 contrary to section 4 of this Act, commits an offence under this Act, and shall be liable on conviction to pay a fine which shall not be less than the cost of gas at the international market.” Leading the debate on the floor, Akpan recalled that though the Bill was passed by the 8th Senate in 2018, it failed to receive concurrence by the House of Representatives due to time constraints as it was close to the end of the legislative session. He s...