In 21 years, NLNG Generates Revenue Worth $108 Billion

The Nigeria Liquefied Natural Gas Company Limited said it has generated revenue amounting to $108 billion. The company added that it has 23 ships that have delivered about 5000 LNG cargoes to destinations around the worth since its establishment 21 years ago.

It also noted that out of the revenue a dividend worth $35 billion has been shared within the period under review with fixed assets now worth $11 billion. These were made known by the management of the NLNG which appeared before the House Committee on Petroleum (Gas Resources).

The General Manager, External Relations and Sustainable Development, Mrs Eyono Fatayi-Williams, recalled that between 1989 and 2019, the company was incorporated and became a limited liability company with four shareholders.

Fatayi-Williams noted that the Nigerian National Petroleum Corporation, of the Federal Government, has 49 percent stake while Agip, Shell and Total have 51 per cent of the shares.

“We buy gas, we liquefy it, we transport it and sell it to the buyers and get value for Nigeria LNG and for Nigeria. In the 21 years, we have operated, we have delivered 5000 LNG cargoes around the world and we have 23 dedicated LNG ships to ensure our operation runs smoothly.”

“On Boni Island, we have six installed and operation LNG trains (the train is also known as LNG manufacturing line) of 22 million tonnes capacity. Our installed asset is $11billion. Today, we have generated $108 billion in revenue since inception and delivered $35 billion in dividends to the shareholders in the 21 years that we have operated; and we have paid $8 billion in taxes.”

Kehinde Ogunyale

Reporting on the data-driven economy, and investigations.

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