To check gas flaring in the country, operators in the gas industry have been asked to leverage a $500 billion funding arrangement between the Bank of Industry (BoI) and the Bank of China (BOC) to finance the import of equipment for flare Gas capture.
The arrangement which requires the intending borrowers to advance about 25 per cent of their funding needs and import their equipment from China, is expected to check flaring activities in the country.
The operators also asked the Federal Government to remove all forms of royalties on locally consumed gas, noting that Nigeria must enhance the fiscal and operational policies required to attract the right investments to realise the objectives and aspirations outlined within the nation’s Gas programmes…
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