Market Intelligence

Gas flaring has been a source of pollution in the Niger Delta region for more than six decades, polluting the atmosphere the soil, and eroding the lives of communities living in one of the most oil-rich regions in Africa. The Nigerian government's efforts at solving this environmental problem have been characterized by delay and capture. The enactment of the Petroleum Industry Act 20212 represents the most ambitious legislative attempt yet to bring routine flaring to an end, through an explicit statutory prohibition, mandatory monetisation planning, and a new institutional architecture anchored around the Nigerian Upstream Petroleum Regulatory Commission.