President Bola Ahmed Tinubu has urged the Nigeria Liquefied Natural Gas Limited (NLNG) to prioritise domestic gas utilisation and convert gas flaring into economic benefits for Nigerians.
He made the call on Wednesday when he received the NLNG board, led by its Managing Director, Adeleye Falade, at the State House.
The president said Nigeria must make better use of its vast gas reserves for domestic consumption rather than allow the resource to go to waste.
“My major concern is domestic utilisation, where you must take out flaring and convert potential environmental liability to what is strategically beneficial to consumers,” he said.
President Tinubu also pledged government incentives to support the expansion of NLNG’s capacity, while calling for pricing mechanisms that would make energy more affordable for ordinary Nigerians.
Speaking during the meeting, Mr Falade said NLNG had generated more than $150bn since its establishment, with $47bn paid as dividends.
He said the company’s production capacity had increased from four to five trains following improvements in oil production, while the planned Train 7 project was expected to increase capacity by 35%.
Mr Falade added that all liquefied petroleum gas (LPG) produced by NLNG was now being directed to the domestic market.
He also disclosed that the Bonny-Bodo Road and Bridge project, funded by NLNG, had been completed and was awaiting commissioning.
President Tinubu commended the company for its financial returns and assured NLNG of continued government support for its growth and expansion.
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