Tinubu tasks NLNG to end gas flaring, boost domestic gas supply

President Bola Tinubu has tasked the management of Nigeria Liquefied Natural Gas Limited (NLNG) with ending gas flaring and redirecting the country’s gas resources towards domestic economic development.

Tinubu gave the charge on Wednesday when he received the NLNG Board at the State House in Abuja, stressing that although increasing foreign revenue remained important, meeting Nigerians’ domestic energy needs must remain a priority.

The delegation was led by NLNG’s Managing Director and Chief Executive Officer, Adeleye Falade.

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The President urged the company to turn environmental liabilities into economic assets by prioritising domestic gas utilisation and developing pricing mechanisms that would make the resource more accessible to 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,” Tinubu said.

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He assured the NLNG management that his administration would provide additional incentives where necessary to expand the company’s operational capacity and support further growth.

Briefing the President on the company’s operations, Falade stated that NLNG had generated over $150 billion in total revenue since its inception.

He said the company had paid $47 billion in dividends to its shareholders, including the Federal Government, which holds a 49 per cent equity stake in NLNG.

Falade said NLNG’s operational capacity, which had fallen to about 60 per cent due to declining crude oil production, had started to recover.

According to him, the company has increased production from four of its six trains to five following the recent improvement in Nigeria’s crude oil output.

Falade also said NLNG currently directs all of its Liquefied Petroleum Gas production to the Nigerian domestic market.

He added that the planned inauguration of Train 7 would increase NLNG’s overall production capacity by 35 per cent.

Falade said Nigeria currently accounts for about five per cent of the global LNG market.

He also disclosed that the NLNG-funded Bonny-Bodo Road and Bridge project had been completed and was ready for formal commissioning.

The NLNG chief executive commended federal regulators, security agencies and the government for policies that, he said, had helped create a stable business environment and strengthen investor confidence.

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The delegation included NLNG Deputy Managing Director Olakunle Osobu, TotalEnergies EP Nigeria Limited Managing Director and Country Chair Matthieu Bouyer, Nigeria Agip Exploration Managing Director Maurizio Pinna, and NLNG General Manager, External Relations and Sustainable Development, Sophia Horsfall.

The Minister of Information and National Orientation, Mohammed Idris, and the Special Adviser to the President on Information and Strategy, Bayo Onanuga, also attended the meeting.