According to the Nigerian National Petroleum Corporation, NNPC’s Monthly Financial and Operation Report for December 2018, the figure represents a 1.93 percent decline compared to the $1.007 billion lost by Nigeria to gas flaring in 2017.
The report stated that the oil and gas firms operating in Nigeria flared 282.05 billion standard cubic feet, scf, of gas in 2018, compared to 287.59 billion SCF flared in 2017.
The volume of gas flared accounted for 9.94 percent of the total gas production of 2.836 trillion scf recorded in Nigeria in 2018.