NLNG generates $149.6bn revenue, pays $10.8bn in taxes as Train 7 nears completion
Nigeria LNG Limited (NLNG) has generated $149.6 billion in revenue since it began operations and has paid $10.8 billion in taxes to the Federal Government since becoming tax compliant in 2009.
Managing Director and Chief Executive Officer, Mr Adeleye Falade, disclosed this on Tuesday in Lagos while unveiling the company’s Facts and Figures 2026, an annual report highlighting its operations, projects and contributions to Nigeria’s economy.
Falade described NLNG as one of Nigeria’s biggest energy success stories, noting that the company has also paid $47.2 billion in dividends to its shareholders, including the Federal Government, its largest shareholder.
He said NLNG currently operates six liquefaction trains, has assets worth more than $22.9 billion, owns a fleet of 20 LNG vessels, and has exported over 6,285 LNG cargoes to international markets since inception.
According to him, NLNG contributes about 6 per cent of global LNG supply, strengthening Nigeria’s position in the international gas market.
A major highlight of the report is the progress on the Train 7 expansion project, which has reached 93 per cent completion.
“When completed, Train 7 will increase our LNG production by 35 per cent and boost LPG production by 50 per cent,” Falade said.
He noted that the project will significantly increase Nigeria’s export earnings while improving the supply of liquefied petroleum gas (LPG), commonly known as cooking gas, to the domestic market.
Falade revealed that NLNG supplied 500,000 tonnes of LPG to the Nigerian market last year, helping to expand access to cleaner cooking fuel across the country.
He also said the company’s gas utilisation model has helped reduce Nigeria’s gas flaring rate from about 65 per cent to less than 20 per cent, contributing to environmental sustainability.
On public health, Falade noted that more than 470,000 Nigerians die annually from illnesses linked to the use of firewood and other polluting cooking fuels, adding that wider LPG adoption is helping to address the challenge.
Highlighting NLNG’s social investments, he cited the completion of the ₦120 billion Bonny-Bodo Road, describing it as one of Nigeria’s largest corporate social responsibility projects.
The 40-kilometre road provides Bonny Island with its first direct road link to the mainland, improving transportation and economic activities in Rivers State.
Despite the achievements, Falade acknowledged that gas supply remains the company’s biggest operational challenge.
“Last year was extremely difficult for us because of gas supply constraints. However, the situation has improved this year, and we are optimistic about the future,” he said.
Industry experts believe the completion of Train 7 will strengthen Nigeria’s position in the global LNG market by enabling NLNG to secure new export contracts, particularly in Europe and Asia, while also increasing domestic LPG availability.
With more than two decades of operations, NLNG remains one of Nigeria’s leading gas companies and a major contributor to government revenue.
As Train 7 nears completion, the company says its focus over the next decade will be on improving operational reliability, expanding production, and delivering greater value to Nigerians.
