The Nigeria LNG Limited, NLNG says it has generated $149.6 billion in revenue since it began operations and has paid $10.8 billion in taxes to the Nigerian Government since becoming tax-compliant in 2009.
Presenting the facts and figures of the company’s 2026 annual report on its operations, projects and impact on Tuesday in Lagos, the Managing director and chief executive officer, Engr. Adeleye Falade, said that the NLNG had also paid $47.2 billion in dividends to its shareholders, including the Nigerian government, which holds the largest equity stake in the company.
“We have generated $149.6 billion in revenue by 2026,” he said. “We have also paid $10.8 billion in taxes to the federal government of Nigeria since becoming tax compliant.”
He stated that the company currently operates six liquefaction trains with assets valued at over $22.9 billion since production began, the NLNG has built a fleet of 20 dedicated LNG vessels and loaded over 6,285 cargoes for customers across the world.
According to Falade, the NLNG now contributes about 6 per cent of global liquefied natural gas supply, reinforcing Nigeria’s position in the international LNG market.
A major focus of the report was the train 7 expansion project on Bonny Island, Rivers State. Falade stated that construction has reached 93 per cent completion and remains on schedule.
He said that train 7 would increase the company’s LNG production capacity by 35 per cent and raise liquefied petroleum gas (LPG) output by 50 per cent, creating additional export volumes, while supporting domestic gas supply.
Beyond exports, Falade said that the NLNG supplied 500,000 tonnes of cooking gas to the Nigerian market in the past year as part of efforts to expand access to cleaner household energy.
He added that the company’s gas gathering and utilisation model has helped reduce Nigeria’s gas flaring rate from about 65 per cent to below 20 per cent.
Falade also linked increased LPG adoption to improved public health, noting that more than 470,000 Nigerians die annually from illnesses associated with the use of firewood and other polluting cooking fuels.
He explained that one of the company’s landmark corporate social responsibility projects is the ₦120 billion Bonny-Bodo Road, a 40-kilometre highway that provides the first road connection between Bonny Island and the Mainland.
Despite the company’s performance, Falade identified inadequate gas supply as NLNG’s biggest operational challenge.
“One of our greatest challenges was gas supply. Last year was extremely bad for us,” he said, adding that supply conditions have improved this year.
As train 7 approaches completion, Falade said that the company’s priorities over the next decade would be to improve operational reliability, expand production and increase its contribution to Nigeria’s economy.
“Our goal is to deliver more energy, more revenue and more value to Nigerians,” he said.
With more than two decades of operations, the NLNG remains one of Nigeria’s largest non-oil contributors to the government revenue and that its associated gas utilisation model has also been recognised as a key contributor to reducing gas flaring in the country.
GIK/APA