By Seun Ibiyemi
Nigeria LNG Limited (NLNG) has generated more than $150 billion in cumulative revenue and remitted over $10 billion in taxes to the Federal Government since commencing operations 37 years ago, reinforcing its position as one of Nigeria’s largest corporate contributors to public revenue.
The company’s Managing Director and Chief Executive Officer, Adeleye Falade, disclosed this on Tuesday during his maiden media briefing in Lagos since assuming office on April 1, 2026.
Falade said NLNG’s financial contributions extend beyond tax payments, noting that the company has also paid $47.2 billion in dividends to shareholders while building an asset base valued at approximately $23 billion.
He explained that the Federal Government, which holds a 49 per cent equity stake in the company, has benefited significantly not only from taxes but also from dividends generated through its shareholding.
“Right from where we started, we generated about $150 billion in revenue. We managed to pay almost $50 billion as dividends to our shareholders,” Falade said.
According to him, NLNG became one of Nigeria’s largest taxpayers after the expiration of its pioneer tax incentive, having remitted more than $10 billion in company income taxes to the Federal Government.
He added that the company’s fiscal contributions go beyond corporate income tax, covering petroleum-related taxes, Value Added Tax (VAT), Pay-As-You-Earn (PAYE) deductions and other statutory levies.
Falade further explained that approximately 60 per cent of payments made by NLNG for gas purchases eventually flow back to the Federal Government through its equity interests in upstream oil and gas producing companies, further strengthening government revenues.
He noted that NLNG has consistently emerged as Nigeria’s most tax-compliant corporate organisation for five consecutive years, underscoring its commitment to fiscal transparency and regulatory compliance.
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Beyond its tax contributions, the company has exported over 6,000 liquefied natural gas cargoes to customers across Europe, Asia, the Middle East and other international markets, making it one of the world’s leading LNG exporters.
Falade said NLNG currently operates six liquefaction trains with a production capacity of 22 million tonnes per annum, while the ongoing Train 7 project will increase production capacity by 35 per cent to 30 million tonnes annually upon completion.
The expansion is also expected to raise domestic liquefied petroleum gas (LPG) production by 50 per cent, adding 250,000 tonnes of cooking gas annually to the Nigerian market.
He disclosed that the company supplied a record 500,000 tonnes of LPG to the domestic market in 2025, accounting for about one-third of Nigeria’s cooking gas demand after dedicating all its LPG production to the local market since 2022.
Looking ahead, Falade said NLNG has begun preliminary discussions on developing Trains 8, 9 and 10 as part of efforts to expand Nigeria’s presence in the global LNG market and unlock greater value from the country’s vast natural gas reserves.
He stressed that with about 209 trillion cubic feet of proven gas reserves and an estimated 600 trillion cubic feet of additional unproven reserves, Nigeria possesses enormous potential to generate higher export earnings, increase tax revenues and strengthen economic growth through accelerated gas development.
Also speaking, the General Manager, External Relations and Sustainable Development, Sophia Horsfall, said the media engagement was designed to provide journalists with factual and contextual information on NLNG’s operations while deepening public understanding of the company’s contribution to Nigeria’s economy and sustainable development.
