Tinubu Calls for Economic Benefits from Gas Flaring

On Wednesday, President Bola Tinubu met with the Nigeria Liquefied Natural Gas Limited (NLNG) Board, led by Managing Director and Chief Executive Officer Adeleye Falade, at the State House in Abuja. Tinubu urged the management to maximize Nigeria’s gas reserves by reducing gas flaring and converting it into economic benefits for the country.

He expressed concern over domestic utilization, stating that flaring should be transformed into a strategic asset for consumers. Tinubu commended the NLNG for its increased capacity and good returns on investment, indicating his willingness to provide additional incentives for growth.

Falade informed the President that since its inception, NLNG has generated over $150 billion, with shareholders, including the Federal Government, receiving approximately $47 billion in dividends. He noted that NLNG had previously operated at about 60% capacity due to inadequate crude oil production but has now raised its capacity to five trains, with plans to inaugurate Train Seven.