By Kelvin Alohan
President Bola Tinubu has pledged government incentives to support the expansion of Nigeria LNG Limited (NLNG) and increase the domestic utilisation of natural gas.
Tinubu made the commitment on Wednesday when he received the board and executive management of NLNG at the Presidential Villa in Abuja.
The President said his administration would support initiatives that turn challenges in the gas sector, particularly gas flaring, into economic opportunities for Nigerians.
He stressed the need to prioritise domestic gas utilisation and ensure the country’s natural resources contribute more directly to economic growth, energy security and improved welfare.
“My major concern is the domestic utilisation. You must be able to take out the flaring and convert potential environmental liability to what could be strategically and economically beneficial to the consumers.
“Any other incentive that might be necessary to stimulate growth and expand your capacity, I will be willing to do that.
“Whatever assets that we have in the ground is nothing unless it is brought up to service the economy, the people, and the realisation of a good return on investment,” Tinubu said.
He urged the NLNG management to sustain its efforts to expand the company’s contribution to Nigeria’s energy security and economic development.
Tinubu also called for greater domestication of LNG-related activities and pricing mechanisms that would make the benefits of the gas sector more accessible to Nigerians.
Earlier, Adeleye Falade, managing director of NLNG, said the company remained focused on sustaining energy security while supporting the administration’s drive to increase domestic gas production and utilisation.
Falade said NLNG would continue to improve operational efficiency and discipline while increasing its contribution to the Nigerian economy.
He said the company remained central to Nigeria’s energy security, while contributing through revenue generation, employment creation and the supply of cooking gas to the domestic market.
“100 per cent of our cooking gas in Nigeria comes into the Nigerian market. And nothing is going to change from that,” Falade said.
He added that the ongoing construction of Train 7, which currently employs about 16,000 people, would further expand NLNG’s capacity and create additional economic opportunities.
According to Falade, Train 7 is expected to increase NLNG’s domestic cooking-gas capacity by 50 percent upon completion.
He assured that the company would continue to operate responsibly, support host communities, generate revenue and deepen its contribution to Nigeria’s economic development.