President Bola Ahmed Tinubu has challenged the Nigeria Liquefied Natural Gas (NLNG) to stop treating gas flaring as an environmental burden and instead turn the wasted resource into a powerful economic asset for Nigeria and its citizens.
Tinubu issued the charge on Wednesday at the State House, Abuja, when he received the NLNG Board, led by its Managing Director and Chief Executive Officer, Engineer Adeleye Falade.
The President said his major concern was ensuring that Nigeria’s vast gas resources were not simply exported or wasted through flaring, but harnessed domestically to drive economic growth, support consumers and improve the lives of Nigerians.
“I am inspired to understand that you are not limiting yourself to the gradual objective of upgrading,” Tinubu said.
“My major concern is the domestic utilisation, where you must be able to take out the flaring and convert potential environmental liability to what could be strategically and economically beneficial to the consumers in the country.
“Yes, you are doing great to really want the revenue up and taking advantage of international interests so that Nigeria might be deriving benefits, but help us back home.”
The President commended the NLNG management for expanding its capacity and improving returns on investment, while assuring the company of his administration’s readiness to provide incentives capable of unlocking further growth.
Tinubu stressed that Nigeria could not afford to leave its natural resources buried underground while millions of Nigerians struggled with energy needs.
“We look straight far into the future, and I believe that this country has what it takes; but whatever asset that we have in the ground is nothing unless it’s brought up to service the economy, the people, and realisation of a good return on investment,” he said.
He urged the NLNG to pay greater attention to domestic energy requirements and pricing mechanisms, insisting that ordinary Nigerians must ultimately feel the impact of the country’s vast gas wealth.
“I think that is the primary focus. But think of people, the need for domestication of some of these energy requirements and pricing mechanisms so that the ordinary man will feel it,” the President added.
NLNG Generates Over $150bn
Briefing the President, Falade disclosed that NLNG had generated more than $150 billion since its inception, with its shareholders, including the Nigerian government, receiving about $47 billion in dividends.
Nigeria holds a 49 per cent stake in the company.
According to Falade, NLNG had previously operated at only about 60 per cent capacity because inadequate crude oil production prevented the company from fully utilising its six available production trains.
He said the situation had improved following increased oil production, enabling NLNG to raise operations to five trains, with further improvements expected.
Falade also disclosed that all of NLNG’s Liquefied Petroleum Gas (LPG), commonly known as cooking gas, is currently dedicated to the domestic market.
Train Seven To Boost Capacity By 35%
The NLNG boss said the company was preparing to inaugurate Train Seven, a major expansion project expected to increase its capacity by 35 per cent.
He added that Nigeria LNG currently accounts for about five per cent of the global LNG market.
Falade said the company’s shareholders had commended the stability of Nigeria’s fiscal environment, noting that the improved stability was helping to attract fresh investments into the oil and gas sector.
He also praised security agencies and industry regulators for their role in sustaining the relative stability in the sector.
Bonny-Bodo Road Ready For Commissioning
Falade further disclosed that the Bonny-Bodo Road and Bridge project, financed by NLNG, had been completed and was awaiting official commissioning.
The project is expected to significantly improve connectivity for communities in the Bonny area.
The NLNG delegation included Deputy Managing Director Olakunle Osobu; Board Director, Managing Director of TotalEnergies EP Nigeria Limited and Country Chair, TotalEnergies, Matthieu Bouyer; Board Director, Vice Chairman and Managing Director of Nigeria Agip Exploration, Maurizio Pinna; and General Manager, External Relations and Sustainable Development, Sophia Horsfall.
Also present were Manager, Government Relations and Regulatory Compliance, Abdul Umar; Head, Government Relations, Tonbrafa Nanaghan; and Senior Government Relations Advisor, Rufai Mohammed Lawal.
Minister of Information and National Orientation Mohammed Idris, Special Adviser to the President on Information and Strategy Bayo Onanuga, and Senior Special Assistant to the President on Energy Transition Yasmin Mohammed also attended the meeting.
