BREAKING NEWS, Energy Briefs
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THE Nigeria Liquefied Natural Gas Company Limited, NLNG, has paid $33billion dividend to the federal government since the inception of the company till date.
Baba Omotowa, managing director of NLNG, announced this today at the official presentation of “Facts and Figures on NLNG 2016” in Lagos.
Omotowa said that part of the reasons why the company was set up is to reduce gas flaring, adding that the company has made $90 billion revenue since inception.
“We have the 4th largest plant in the world and supplying 7 per cent of the global LNG market. We also contribute 14 per cent to Nigeria’s budget. NLNG provided more than 12,000 jobs each construction year. Overall, the major sub-contractors employed over 18,000 Nigerians in technical jobs in the base project,” Omotowa said
The NLNG supplied more than 80 per cent of cooking gas in Nigeria, and generated $40 billion from gas that used to be flared in the country.
The company is owned by four shareholders, namely, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation, 49 percent, Shell, 25.6 percent, Total LNG Nigeria Ltd, 15 percent and Eni-Agip, 10.4 percent.
— Apr 12, 2016 @ 17:30 GMT
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