No fewer than 800 companies have bid for management of 176 gas flare sites in the country, the Minister of State for Petroleum Resources, Ibe Kachikwu, has said. Mr K.achikwu told journalists in Abuja on Thursday that government had received bids of 226 bidders that paid the stipulated fees out of the 800 companies that expressed interest in managing the sites.
He said the government was working hard to stop gas flaring in the country by the year 2020, 10 years ahead of the United Nation’s deadline. “Over 800 companies have expressed interest to manage about 176 gas flare sites and out of the total companies, about 226 have paid the stipulated fees and their bids had been received,” he said. He said it was unfortunate that Nigeria had over the years failed to properly utilise its gas resources for the development of the economy.