President Bola Ahmed Tinubu has urged the Nigeria LNG Limited (NLNG) to intensify efforts to reduce gas flaring and convert Nigeria’s wasted gas resources into economic value for consumers and the wider economy, as reported by ChannelsTv and Punch. He made the call while receiving the NLNG Board, led by Managing Director and CEO Adeleye Falade, at the State House in Abuja.
Tinubu said his administration’s priority should extend beyond increasing LNG export revenues to deepening domestic gas utilisation. He described gas flaring as a potential environmental liability that could instead become an economically productive resource, particularly if more gas is directed toward domestic energy needs and affordable pricing.
Falade disclosed that NLNG has generated more than $150 billion since inception, with shareholders, including the Nigerian government, receiving about $47 billion in dividends. Nigeria owns a 49% stake in the company. NLNG had previously operated at about 60% capacity because of insufficient gas supply, but improved production has enabled five of its six existing trains to operate.
The company is also preparing for Train 7, which is expected to increase NLNG’s capacity by about 35%. Falade said all of the company’s LPG production is currently directed to the domestic market. Tinubu has pledged government incentives to support further expansion, while urging NLNG to ensure Nigeria’s gas wealth delivers greater benefits at home.
