- Tinubu to NLNG: Turn Gas Flaring Into Economic Benefits for Nigerians
- Says NLNG Has Generated Over $150bn Since Inception
- Falade said NLNG had previously operated at about 60 per cent capacity because of challenges affecting crude oil production, which meant only four of its six trains were operational
President Bola Ahmed Tinubu has urged the management of the Nigeria Liquefied Natural Gas Limited (NLNG) to prioritise the domestic utilisation of Nigeria’s gas resources and reduce gas flaring.
Eko Hot Blog reports that Tinubu made the call on Wednesday at the State House in Abuja while receiving members of the NLNG Board led by its Managing Director and Chief Executive Officer, Adeleye Falade.
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The President said Nigeria must move beyond earning revenue from its gas resources internationally and ensure the country’s citizens also benefit from the sector.
Tinubu described gas flaring as a potential environmental liability that should instead be converted into economic value for Nigerians.
“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,” he said.
The President commended NLNG for improving its capacity and generating returns on investment, assuring the company of his administration’s willingness to provide incentives needed to stimulate further growth.
He said Nigeria’s natural resources would only become valuable when they were developed and deployed to serve the economy and improve the lives of citizens.
Tinubu also called for greater domestication of energy requirements and pricing mechanisms, saying ordinary Nigerians should be able to feel the benefits of the country’s natural resources.
Earlier, Falade said the NLNG Board was at the State House to brief the President on the company’s operations since he assumed office in April 2026.
According to him, NLNG has generated more than $150 billion since inception, with its shareholders, including the Federal Government, receiving about $47 billion in dividends. Nigeria holds a 49 per cent stake in the company.
Falade said NLNG had previously operated at about 60 per cent capacity because of challenges affecting crude oil production, which meant only four of its six trains were operational.
He, however, said increased oil production had enabled the company to raise its operating capacity to five trains, with further improvements expected.
The NLNG chief executive disclosed that all of the company’s Liquefied Petroleum Gas, LPG, production, commonly known as cooking gas, is currently directed to the domestic market.
He also said the company was looking forward to inaugurating Train Seven, which is expected to increase its capacity by 35 per cent. NLNG currently accounts for about five per cent of the global LNG market, he added.
Falade said shareholders had commended the stability of Nigeria’s fiscal environment, noting that it was helping to attract fresh investments into the oil and gas sector.
He also praised security agencies and industry regulators for contributing to the stability in the sector.
The NLNG boss further disclosed that the Bonny-Bodo Road and Bridge project, financed by the company, had been completed and was awaiting official commissioning.
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