By our Reporter
President Bola Tinubu has tasked the management of the Nigeria Liquefied Natural Gas (NLNG) Limited to intensify efforts to convert gas flaring into economic benefits for Nigeria and reduce its environmental impact.
President Tinubu gave the charge on Wednesday at the State House, Abuja, when he received the NLNG Board, led by its Managing Director and Chief Executive Officer, Engr. Adeleye Falade.
The President stressed the need for greater domestic utilisation of Nigeria’s gas resources, urging the company to ensure that the country derives maximum economic value from its abundant gas reserves.
He said gas flaring should be reduced and its potential environmental liability transformed into an economic opportunity that would benefit Nigerians, particularly through improved domestic energy supply and pricing.
According to him, while the NLNG was making progress in increasing revenue and taking advantage of international market opportunities, the company must also focus on addressing domestic energy needs.
President Tinubu commended the NLNG management for increasing the company’s capacity and improving returns on investment, assuring the team that his administration would continue to provide necessary incentives to support growth and expansion.
He said Nigeria’s natural resources would only become valuable when effectively harnessed to serve the economy and improve the welfare of citizens.
Earlier, Falade said the NLNG team was at the State House to brief the President on the company’s operations since the current management assumed office in April 2026.
He disclosed that NLNG had generated more than $150 billion since its inception, with its shareholders, including the Federal Government, receiving about $47 billion in dividends. The Nigerian government holds a 49 per cent stake in the company.
Falade explained that NLNG had previously operated at about 60 per cent capacity due to inadequate crude oil production, which resulted in only four of its six available production trains being operational.
He said increased crude oil production following developments in the oil and gas sector had enabled the company to increase its operational capacity to five trains, with further improvements expected.
The NLNG chief executive also disclosed that the company was preparing to inaugurate Train Seven, which he said would increase its capacity by about 35 per cent. He added that Nigeria currently accounts for approximately five per cent of the global LNG market.
Falade further said all of NLNG’s liquefied petroleum gas (LPG), commonly known as cooking gas, production was currently focused on the domestic market.
He said shareholders had commended the stability in Nigeria’s fiscal environment, noting that it was helping to attract additional investments into the oil and gas sector.
The NLNG chief executive also commended security agencies and industry regulators for their contributions to the stability of the sector.
He informed the President that the Bonny-Bodo Road and Bridge project, financed by NLNG, had been completed and was awaiting official commissioning.
Other members of the NLNG delegation included Deputy Managing Director, Olakunle Osobu; Board Director and Managing Director of TotalEnergies EP Nigeria Limited, 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.
The 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.
