Nigeria LNG Limited (NLNG) has generated more than $150 billion in cumulative revenue and exported over 6,000 liquefied natural gas (LNG) cargoes to customers across the globe since commencing operations 37 years ago, reinforcing its position as one of Nigeria’s most significant corporate contributors to economic growth and government revenue.
The company also revealed that it has paid over $47.2 billion in dividends to shareholders, remitted more than $10 billion in taxes to the Federal Government, and built an asset base valued at approximately $23 billion, making it one of the country’s largest taxpayers and a key player in Nigeria’s energy sector.
These milestones were unveiled on Tuesday by the Managing Director and Chief Executive Officer of NLNG, Mr. Adeleye Falade, during his maiden media engagement since assuming office on April 1, 2026. The briefing, held in Lagos, also outlined the company’s ambitious expansion plans, including the completion of the Train 7 project and preliminary discussions on the development of Trains 8, 9 and 10, aimed at strengthening Nigeria’s position in the increasingly competitive global LNG market.
Providing an overview of NLNG’s journey over the past 37 years, Falade described the company as one of the world’s leading LNG exporters, having safely delivered more than 6,000 cargoes to customers across Europe, Asia, the Middle East and other international markets.
He clarified a common misconception about the company’s operations, explaining that NLNG does not produce natural gas but rather purchases gas from upstream producers before processing, liquefying, transporting and marketing it internationally.
“We don’t produce the gas. We buy gas, just like power companies buy gas. We process it, liquefy it, transport it and sell it across the world,” Falade stated.
According to him, NLNG currently operates six liquefaction trains with a combined production capacity of 22 million tonnes per annum (MTPA). He described the company’s Bonny Island facility as the largest industrial complex in Sub-Saharan Africa, supported by a dedicated fleet of 22 vessels, comprising 20 LNG carriers, one liquefied petroleum gas (LPG) vessel serving the domestic market and another vessel dedicated to operational support.
Highlighting the company’s financial performance, Falade said NLNG has consistently delivered value to both shareholders and the Nigerian government.
“Our assets are currently valued at about $23 billion. Right from where we started, we generated about $150 billion in revenue. We managed to pay almost $50 billion as dividends to our shareholders,” he said, adding that actual dividend payments currently stand at $47.2 billion.
He further noted that the Federal Government, through the Nigerian National Petroleum Company Limited (NNPC Ltd.), remains NLNG’s largest shareholder with a 49 per cent equity stake, while Shell, TotalEnergies and Eni own the remaining interests.
Falade explained that after the expiration of the company’s pioneer tax status, NLNG emerged as one of Nigeria’s biggest taxpayers.
“Right from when we became tax compliant, we’ve paid tax in excess of $10 billion to the Federal Government,” he disclosed.
Beyond corporate income tax, he explained that NLNG contributes significantly through petroleum-related taxes, Value Added Tax (VAT), Pay-As-You-Earn (PAYE) deductions and other statutory levies. He added that approximately 60 per cent of the payments made by NLNG for gas purchases eventually return to the Federal Government due to its equity interests in upstream gas-producing companies.
Falade also disclosed that NLNG has maintained its status as Nigeria’s most tax-compliant corporate organisation for five consecutive years, reflecting its commitment to transparency, accountability and regulatory compliance.
On domestic energy supply, the NLNG boss announced that the company supplied a record 500,000 tonnes of Liquefied Petroleum Gas (LPG)—commonly known as cooking gas—to the Nigerian market last year.
He described the achievement as the highest annual domestic LPG supply since NLNG began local distribution in 2005, when it supplied only about 70,000 tonnes.
“Last year was the highest volume we’ve ever supplied in a single year when we supplied 500,000 tonnes of LPG. Today, that’s about 33 per cent of the country’s total demand,” he said.
Falade revealed that since 2022, NLNG has dedicated 100 per cent of its LPG production to the Nigerian market, discontinuing exports in order to improve access to cleaner cooking fuel for Nigerians.
According to him, the decision followed growing concerns over the health risks associated with the use of firewood and other biomass for cooking, particularly among women and children.
He noted that expanding LPG availability not only promotes cleaner household energy but also contributes to reducing deforestation, indoor air pollution and carbon emissions, while supporting Nigeria’s broader energy transition agenda.
Falade also highlighted NLNG’s significant contribution to reducing gas flaring in Nigeria.
He recalled that when the company commenced operations, approximately 65 per cent of associated gas produced alongside crude oil was flared due to the absence of commercial utilisation.
Today, he said, that figure has dropped to below 20 per cent, largely because NLNG created a viable commercial market for associated gas that would otherwise have been wasted.
“Half of the gas that we receive into our plant is associated gas. This is gas that people used to flare. Because we created a viable business case for that gas, we’ve helped reduce gas flaring significantly,” he explained.
Despite Nigeria possessing one of the world’s largest natural gas reserves, Falade argued that the country has yet to fully harness its enormous potential.
He said Nigeria currently has about 209 trillion cubic feet (TCF) of proven natural gas reserves, with an estimated 600 TCF of additional unproven reserves.
Comparing Nigeria with other LNG-producing nations, he observed that Australia has developed LNG export capacity of approximately 88 million tonnes annually despite having only about 120 TCF of proven gas reserves, while Malaysia, with significantly smaller reserves than Nigeria, also operates a much larger LNG export capacity.
“We are a gas country with some oil, but we’re just scratching the surface of our potential,” Falade stated.
To unlock more of that potential, he identified the Train 7 project as NLNG’s immediate growth priority.
According to him, the project will increase the company’s production capacity by 35 per cent, from 22 million tonnes to 30 million tonnes per annum, upon completion.
Train 7 is also expected to boost LPG production by 50 per cent, adding an extra 250,000 tonnes of cooking gas annually to the domestic market.
He further disclosed that the project currently provides employment for approximately 16,000 workers daily, underscoring its economic impact beyond the energy sector.
Looking beyond Train 7, Falade revealed that NLNG has already commenced preliminary discussions on the possible development of Trains 8, 9 and 10, as part of a long-term strategy to sustain growth, strengthen Nigeria’s competitiveness in the global LNG industry and maximise the country’s abundant gas resources.
Also speaking during the media engagement, the General Manager, External Relations and Sustainable Development, Sophia Horsfall, said the session was organised to foster greater engagement with the media by providing journalists with timely, accurate and contextual information about the company’s operations.
She stressed that responsible and credible journalism depends on access to verified facts and adequate context, adding that the engagement was designed not only to present NLNG’s performance figures but also to deepen public understanding of the company’s contribution to Nigeria’s economy and the strategic role of natural gas in driving sustainable national development.
She reaffirmed NLNG’s commitment to transparency, stakeholder engagement and supporting Nigeria’s long-term economic diversification through responsible gas development.
