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NLNG revenue generation hits $110b

By John Ofikhenua, Abuja

The Nigerian Liquidfied Natural Gas (NLNG) said its revenue generation since 1999 has exceeded $110billion.

Its Managing Director, Mr. Tony Attah, made this known at a briefing in Abuja where he announced the firm’s Sales and Purchase Agreements (SPAs) with off-takers for the supply of domestic LNG.

Nigeria NLNG, according to him, has paid about US$18 billion as dividends to the Federal Government of Nigeria, through the state-owned Nigerian National Petroleum Corporation (NNPC) 49% shareholding and equivalent amount as dividend to the other three shareholders in the same time period.

He added the company has also paid about US$15 billion for feed gas purchases to the Federal Government of Nigeria through its shareholding in NNPC and about USD9 billion in taxes.

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Attah said besides, the Domestic LNG Scheme, the company has been involved in the ongoing Train 7 project with a capacity to attract about $10bn in foreign direct investment.

Continuing, he noted that “We are also looking to expand the LPG value chain by increasing our supply to the domestic market, guaranteeing LPG supply and enhancing its affordability, and enabling the development of a value network for a sustainable ecosystem”.

Attah further noted that Nigeria’s LNG remains a major influencer in the domestic LPG sector.

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