The Speaker of the House of Representatives, Rep. Tajudeen Abbas, has taken a significant step in tackling the pressing issue of gas flaring in Nigeria.

He inaugurated an Ad hoc Committee with the specific mandate of investigating the alleged $9.05 billion revenue loss stemming from gas flaring over the past decade.

During the committee’s inauguration on Monday, Rep. Abbas emphasized the importance of comprehending and mitigating the environmental, social, and economic consequences of this harmful practice.

Gas flaring has long been a matter of concern, causing substantial environmental degradation and economic losses, with an estimated annual loss of $2.5 billion.

The Chairman of the committee, Rep. Babba Munir, stressed that the committee’s purpose was to represent the interests of all Nigerians and find ways to address the lingering issue of gas flaring, despite previous attempts to stop it by oil companies.

To begin the investigation, the committee has summoned several key players in the oil and gas industry to provide their input and insights on the matter.

The Nigerian Oil Spill Detection and Response Agency (NOSDRA) has previously reported significant losses due to gas flaring, making this investigation a critical step towards understanding and resolving the ongoing problem.