President Tinubu urges NLNG to convert gas flaring into economic benefit for Nigeria
President Bola Tinubu has called on the management of Nigeria Liquefied Natural Gas Limited NLNG to maximize the country's gas reserves by reducing gas flaring and converting it into economic benefits for Nigerians. During a meeting with the NLNG Board, led by Managing Director and Chief Executive Officer Adeleye Falade, President Tinubu emphasized the importance of domestic gas utilization to transform potential environmental liabilities into strategic and economic advantages for consumers. He commended NLNG for increasing its capacity and ensuring good returns on investment, stating his willingness to provide further incentives for growth. Falade informed the President that NLNG has generated over $150 billion since its inception, with shareholders, including the Federal Government, receiving approximately $47 billion in dividends. Nigeria holds a 49 percent stake in the company. Falade noted that NLNG previously operated at 60 percent capacity due to inadequate crude oil production, but increased oil production has allowed operations to expand to five trains, with further improvements expected. He also mentioned that all LPG production is currently directed to the domestic market and that the company aims to inaugurate Train Seven, which would increase capacity by 35 percent. Falade highlighted the stability in Nigeria's fiscal environment, which is attracting more investment, and confirmed the completion of the Bonny-Bodo Road and Bridge project, financed by NLNG, awaitin
