By By Elizabeth Ugbo
President Bola Ahmed Tinubu on Wednesday urged the Nigeria Liquefied Natural Gas (NLNG) Board to reduce gas flaring and unlock Nigeria’s gas reserves for economic growth, domestic use and consumer benefits. He made the call at the State House in Abuja while receiving the NLNG Board, led by Managing Director and Chief Executive Officer Adeleye Falade, as the company briefed him on its operations and expansion plans.
Tinubu Wants More Domestic Gas Benefits
President Tinubu challenged NLNG to focus more on domestic gas utilisation.
He said Nigeria must convert gas flaring from an environmental liability into an economic opportunity.
According to him, Nigerians should benefit directly from the country’s vast gas resources.
“My major concern is the domestic utilisation, where you must be able to take out the flaring.”
Tinubu also urged the company to develop strategies that would make energy more accessible to Nigerians.
He noted that Nigeria must use its natural resources to improve economic productivity.
The President also praised NLNG for increasing its capacity and improving returns on investment.
President Promises Support for NLNG Expansion
Tinubu assured the NLNG management of government support for further expansion.
He said the government would provide incentives where necessary to unlock the company’s full potential.
The President also stressed the importance of long-term planning.
He said Nigeria must turn its resources in the ground into economic value.
According to Tinubu, natural resources have little value until Nigerians put them into productive use.
He also called for greater domestic production of energy products.
Furthermore, he urged NLNG to consider pricing mechanisms that could benefit ordinary Nigerians.
NLNG Reports Over $150 Billion Revenue
Speaking at the meeting, Adeleye Falade briefed Tinubu on NLNG’s performance.
He said the company has generated more than $150 billion since its inception.
Shareholders have received about $47 billion in dividends during that period.
Nigeria holds a 49 percent stake in NLNG.
Falade said NLNG previously operated at about 60 percent capacity.
The company faced production challenges because Nigeria could not produce enough crude oil.
As a result, NLNG operated only four of its six available production trains.
NLNG Increases Production Capacity
However, the company has recorded improvements following higher oil production.
Falade said NLNG has now increased its operations to five trains.
He expects further improvements as crude oil production continues to rise.
The company also plans to inaugurate Train Seven.
According to Falade, Train Seven will increase NLNG’s capacity by 35 percent.
The expansion could also strengthen Nigeria’s position in the global LNG market.
Currently, NLNG accounts for about five percent of global LNG supply.
Cooking Gas Production Targets Nigerian Market
Falade also highlighted NLNG’s role in Nigeria’s cooking gas supply.
He said the company currently directs all its LPG production to the domestic market.
This approach could support efforts to expand access to cooking gas across Nigeria.
It could also help reduce pressure on households using traditional cooking fuels.
Therefore, greater domestic gas supply could deliver both economic and social benefits.
Fiscal Stability Attracts New Investments
The NLNG chief also praised the country’s improving fiscal environment.
He said shareholders have commended the stability in Nigeria’s fiscal policies.
According to him, the stability continues to attract fresh investments.
Falade also praised Nigeria’s security agencies and oil and gas regulators.
He said their efforts have contributed to improved stability across the sector.
Bonny-Bodo Road Awaits Commissioning
Falade also updated President Tinubu on the Bonny-Bodo Road and Bridge project.
NLNG financed the major infrastructure project.
He confirmed that construction has been completed.
The project now awaits its official commissioning.
The road and bridge are expected to improve transportation and connectivity in the Niger Delta.
NLNG Board Members Attend State House Meeting
Other NLNG officials attended the meeting with President Tinubu.
They included Deputy Managing Director Olakunle Osobu.
Board Director and TotalEnergies EP Nigeria Managing Director Matthieu Bouyer also attended.
Maurizio Pinna, Board Director, Vice Chairman and Managing Director of Nigeria Agip Exploration, was present.
General Manager of External Relations and Sustainable Development Sophia Horsfall also attended.
Manager of Government Relations and Regulatory Compliance Abdul Umar was also present.
Other officials included Head of Government Relations Tonbrafa Nanaghan.
Senior Government Relations Advisor Rufai Mohammed Lawal also attended.
Minister of Information and National Orientation Mohammed Idris attended the meeting.
Special Adviser to the President on Information and Strategy Bayo Onanuga was also present.
Senior Special Assistant to the President on Energy Transition Yasmin Mohammed attended as well.
