The Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG), Engr. Adeleye Falade, has disclosed that the company’s asset base has grown to more than $22.9 billion, underscoring its significant contribution to Nigeria’s economy and the global liquefied natural gas market.
Falade made the disclosure during NLNG’s annual Facts and Figures media engagement held in Lagos, where he highlighted the company’s achievements since it commenced operations and outlined its growth strategy anchored on operational excellence, sustainability, and expansion of production capacity.
According to him, NLNG has generated over $149.6 billion in revenue, paid more than $47.2 billion in dividends to shareholders, and remitted over $10.8 billion in taxes to the Federal Government since becoming tax compliant.
He added that the company has successfully loaded more than 6,285 LNG cargoes and continues to supply over 500,000 tonnes of Liquefied Petroleum Gas (LPG) annually to the Nigerian market, contributing significantly to domestic energy security.
Falade noted that the milestones reflect NLNG’s enduring commitment to creating value for Nigeria through investments that support economic growth, industrialisation, and energy access.Speaking on the company’s growth plans, he said NLNG remains focused on the safe delivery of its Train 7 Project, which is expected to increase production capacity by approximately 35 per cent, from 22 million tonnes per annum (MTPA) to 30 MTPA.
The project is also expected to increase LPG production by about 50 per cent, adding an estimated 250,000 tonnes annually to the domestic market.Describing Train 7 as one of Africa’s largest LNG expansion projects, Falade said it represents NLNG’s confidence in Nigeria’s gas potential and demonstrates the company’s commitment to unlocking greater value from the country’s abundant natural gas resources.
“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,” he said.
He reiterated NLNG’s support for the Federal Government’s Decade of Gas initiative, stressing that natural gas remains critical to Nigeria’s industrialisation agenda, economic diversification, and transition to a lower-carbon future.
On sustainability, the NLNG boss highlighted the company’s investments in emissions monitoring and reduction initiatives, conservation projects such as the protection of Finima Nature Park, and ongoing collaboration with regulators on carbon capture and storage initiatives.Falade also pointed to the Bonny–Bodo Road Project as one of Nigeria’s most significant corporate infrastructure investments, noting that it has provided the first road connection between Bonny Island and mainland Rivers State while opening up economic opportunities for host communities.
Addressing industry challenges, he acknowledged that feed gas availability remains a priority for the Nigerian gas sector but expressed confidence that ongoing reforms and collaboration among government agencies, regulators, and upstream partners will strengthen long-term gas supply and support future growth.
Despite increasing competition from emerging LNG-producing countries, Falade said NLNG remains well positioned through operational excellence, reliable delivery, disciplined execution, and continuous investment in its people and assets.
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He called for greater efforts to commercialise Nigeria’s vast gas reserves responsibly and sustainably, noting that the country’s competitive advantage will depend on its ability to convert its abundant gas resources into lasting economic value, jobs, and improved energy access for millions of Nigerians.
