NLNG Records $149.6bn Revenue, Reaffirms Growth, Train 7 Expansion
Nigeria LNG Limited (NLNG) has reiterated its commitment to sustainable growth, energy security and long-term value creation, unveiling plans to boost production capacity, strengthen domestic gas supply and advance environmental sustainability through the successful delivery of its Train 7 expansion project.
Speaking during the company’s annual media engagement in Lagos on Tuesday, the Managing Director and Chief Executive Officer, Engr. Adeleye Falade, said NLNG remains focused on improving operational efficiency, expanding production capacity and supporting Nigeria’s industrialisation agenda.
Falade disclosed that the Train 7 project, described as one of Africa’s largest liquefied natural gas (LNG) expansion projects, will increase NLNG’s production capacity by about 35 per cent from 22 million tonnes per annum (mtpa) to 30 mtpa.
The project is also expected to increase Liquefied Petroleum Gas (LPG) supply to the domestic market by about 50 per cent, adding an estimated 250,000 tonnes annually.
According to him, the expansion underscores the company’s confidence in Nigeria’s gas potential and its commitment to creating long-term value through increased exports, stronger domestic gas supply, local content development and economic growth.
“Train 7 represents much more than additional production capacity. It reflects our confidence in Nigeria’s gas potential and our commitment to creating long-term value through increased exports, stronger domestic gas supply, Nigerian Content development and economic growth,” Falade said.
He revealed that since commencing operations, NLNG has generated more than US$149.6 billion in revenue, paid over US$47.2 billion in dividends to shareholders and remitted more than US$10.8 billion in taxes to the Federal Government after becoming tax compliant.
The company has also built an asset base exceeding US$22.9 billion, exported more than 6,285 LNG cargoes, and continues to supply over 500,000 tonnes of LPG annually to the Nigerian market.
Falade said the milestones demonstrate NLNG’s contribution to Nigeria’s economy, energy security and global competitiveness, while reaffirming the company’s support for the Federal Government’s Decade of Gas initiative.
He noted that natural gas remains central to Nigeria’s industrialisation, economic diversification, energy security and transition to a lower-carbon economy.
On sustainability, the NLNG boss said the company continues to invest in emissions monitoring and reduction, biodiversity conservation, including the protection of the Finima Nature Park, and collaboration with regulators on carbon capture and storage initiatives.
He also highlighted the Bonny-Bodo Road project as one of Nigeria’s largest corporate infrastructure investments, noting that it has provided the first road connection between Bonny Island and mainland Rivers State while opening up new economic opportunities for surrounding communities.
Addressing industry challenges, Falade acknowledged that feed gas availability remains a key concern for the Nigerian gas industry but expressed confidence that ongoing collaboration among government, regulators and upstream operators, alongside recent reforms, would strengthen long-term gas supply.
He added that despite growing competition from emerging LNG-producing countries, NLNG remains well positioned through operational excellence, reliable delivery and continued investment in its workforce and assets.
“Nigeria possesses one of the world’s largest gas reserves. Our collective responsibility is to monetise that resource responsibly and sustainably, creating jobs, expanding energy access, driving industrialisation and improving lives for generations to come,” he said.
Earlier, the General Manager, External Relations and Sustainable Development, Sophia Horsfall, said the annual Facts and Figures presentation reflects NLNG’s commitment to transparency and constructive engagement with the media.
According to her, the initiative provides journalists with credible information and business insights to support informed reporting on the company’s operations and the strategic role of natural gas in Nigeria’s economic development.
The media engagement featured discussions on global LNG market trends, domestic gas utilisation, energy transition, sustainability, the Train 7 project, Nigerian Content development and the future of Nigeria’s gas industry.