Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the td-cloud-library domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/vhosts/economicconfidential.com/httpdocs/wp-includes/functions.php on line 6121
NLNG Records $110bn Revenue - Economic Confidential
Facebook Instagram Twitter Youtube
  • Home
  • News
    • National News
    • State News
  • Business
  • Features
    • Insight
    • Opinion
  • FAAC
  • Financial
    • Facts & Figures
    • Monetary
    • Tax Matters
  • Sidelines
  • Profile
  • Special Focus
Search
Economic Confidential Factual, Authoritative & Accessible
  • Home
  • News
    • AllNational NewsState News

      PETROAN Sounds Alarm Over Dangote’s Fuel Market Dominance

      cbn

      CBN to Offer N162bn Worth of Treasury Bills for Subscription

      CBN Governor, Olayemi Cardoso

      CBN Clamps Down on Banks Under Regulatory Forbearance

      Dangote Refinery nnpcl

      Dangote Refinery to Commence Nationwide Distribution of Petrol, Diesel

  • Business
    • cbn

      CBN to Offer N162bn Worth of Treasury Bills for Subscription

      CBN Governor, Olayemi Cardoso

      CBN Clamps Down on Banks Under Regulatory Forbearance

      Dangote Refinery nnpcl

      Dangote Refinery to Commence Nationwide Distribution of Petrol, Diesel

      Dollar Against Naira

      Naira Gains Against Dollar in Both Official, Black Markets

      Petrol, Fuel, Oil Marketers

      N2trn Drop in Petrol Imports as Local Production Improves

  • Features
    • AllInsightOpinion
      Rabi Ummi Umar

      A Heartfelt Letter to Our Fathers, by Rabi Ummi Umar

      Central Bank of Nigeria, CBN

      As CBN Leads Nigeria’s Gender-sensitivity Resurgence, by Rahma Olamide Oladosu

      The Comptroller-General of the Nigeria Customs Service (NCS), Mr Bashir Adewale Adeniyi

      GEOINT: The Intelligence Edge Nigeria Customs Needed, By Tahir Ahmad

      DG NITDA Kashifu Inuwa

      When Borrowing Becomes Harm and NITDA Responds, By Fatimah Yusuf Usman

  • FAAC
    • FAAC

      FAAC: FG, States, LGs Share N1.7tn in February

      Federal Account Allocation Committee FAAC

      FAAC: FG, States, LGs Shared N1.7trn in January

      FAAC

      N13.7trn Federation Account Revenue Unremitted by NNPCL – FAAC

      FAAC

      FAAC Revenue Declines by N303bn in December

      cbn

      Federation Account grew by 7.48% in Q3 2024

  • Financial
    • AllFacts & FiguresMonetaryTax Matters
      Nigerian Financial Intelligence Unit (NFIU) OGFZA

      Nigeria Nears FATF Grey List Exit – NFIU

      President Bola Ahmed Tinubu Cop

      ‘Tinubu’s Reforms Bold, But Brought Pains on Citizens, Businesses’

      TAX

      Tax Reforms Not Just About Revenue, Says Presidential Aide

      Nigeria Spends $1bn to Upgrade Telecom Infrastructure

  • Sidelines
    • Saliu Mustapha

      Visit Kwara: Saliu Mustapha Pens Foreward For New Book Spotlighting Kwara…

      Apple Data Breach: Marketing Strategy or Security Issue

      Dangote-BUA Sugar Scarcity Feud

      Google: Expanding 2-Step Verification Enrollment

      SAEMA Awards 2021: Submit Nominees for Security and Emergency Management Awards

  • Profile
    • Sambo Dasuki

      Polo, Politics, and the Dasuki Family

      The immediate-past Director in charge of Executive Secretary’s Office at the National Sugar Development Council (NSDC), Mallam Ahmed M. Waziri.

      Ahmed Musdafa Waziri: A Quintessential Civil Servant at 60, by Abdulrahman…


      Warning: Trying to access array offset on value of type bool in /var/www/vhosts/economicconfidential.com/httpdocs/wp-content/plugins/td-composer/legacy/common/wp_booster/td_module.php on line 565

      Deprecated: parse_url(): Passing null to parameter #1 ($url) of type string is deprecated in /var/www/vhosts/economicconfidential.com/httpdocs/wp-content/plugins/td-composer/legacy/common/wp_booster/td_module.php on line 565

      Warning: Trying to access array offset on value of type bool in /var/www/vhosts/economicconfidential.com/httpdocs/wp-content/plugins/td-composer/legacy/common/wp_booster/td_module.php on line 660

      Warning: Trying to access array offset on value of type bool in /var/www/vhosts/economicconfidential.com/httpdocs/wp-content/plugins/td-composer/legacy/common/wp_booster/td_module.php on line 660

      Warning: Trying to access array offset on value of type bool in /var/www/vhosts/economicconfidential.com/httpdocs/wp-content/plugins/td-composer/legacy/common/wp_booster/td_module.php on line 660

      PROFILE: Ten Things to Know About New CCB Chairman, Dr Abdullahi…

      CBN's Acting Director of Corporate Communications, Hakama Sidi Ali

      Hakama Sidi-Ali: The CBN’s First Female Spokesperson and Reputation Management

      Aisha Rimi

      PROFILE: Aisha Rimi, a Square Peg in NIPC’s Square Hole

  • Special Focus
    • Point of Sale Transaction (PoS)

      SPECIAL REPORT: Cash Crunch, Exorbitant POS Charges in the Face of…

      SPECIAL REPORT: Sickle Cell Awareness- A Public Health Imperative for Nigeria,…

      Governor Abba Yusuf of Kano, President Tinubu of Nigeria and Governor Sim Fubara of Rivers

      Shambolic Local Elections: Are Governors Setting ‘Standard’ for Tinubu’s 2027 Re-Election…

      Obamodi Oluwadamilola Faith

      Palliatives Distribution: A Culture FG Must Stop By Obamodi Oluwadamilola Faith

      health care sector

      EXCLUSIVE: How Health Ministry Scuttled Plot to Frustrate Multi-billion Naira Malaria…

Home Business NLNG Records $110bn Revenue
  • Business

NLNG Records $110bn Revenue

By
Economic Confidential
-
June 9, 2021

NLNG Records $110bn Revenue

Your browser does not support the video tag.

 

 

 

The Nigerian Liquidfied Natural Gas (NLNG) yesterday said its revenue generation since 1999 has exceeded $110 billion.

Its Managing Director, Mr. Tony Attah made this known at the press conference in Abuja, where he announced the firm’s Sales and Purchase Agreements (SPAs) with offtakers for the supply of domestic LNG.

The press statement that made the disclosure said: “At the home front, we are distinguished as a development partner with Nigeria’s Government, with our six-train plant generating more than US$110 billion in revenue since it began operation in 1999”.

Nigeria LNG, according to him, has paid about $18 billion as dividends to the Federal Government of Nigeria, through the state-owned Nigerian National Petroleum Corporation (NNPC) 49 per cent shareholding and equivalent amount as dividend to the other three shareholders in the same time period.

He added that the company has also paid about US$15 billion for feed gas purchases to the Federal Government of Nigeria through its shareholding in NNPC and about USD9 billion in taxes.

Attah said besides, the Domestic LNG Scheme, the company has the ongoing Train 7 project with capacity to attract about $10bn in foreign direct investment.

Continuing, he noted that “We are also looking to expand the LPG value chain by increasing our supply to the domestic market, guaranteeing LPG supply and enhancing its affordability, and enabling the development of a value network for a sustainable ecosystem”.

Attah further noted that Nigeria LNG remains a major influencer in the domestic LPG sector.

He revealed that presently, “we have dedicated 450ktpa of LPG to the market and our focus is to support the use of cleaner energy to protect our citizens and the environment from the hazards posed by other cooking fuels by encouraging the use of cooking gas in Nigeria”.

On the agreement, he said “it is my pleasure, to welcome you and announce that our commitment, as a corporate entity, to unlocking gas utilization is now backed by the execution of Sales and Purchase Agreements (SPAs) to supply 1.1 Million Tonnes Per Annum (MTPA) of LNG on DES basis to Asiko Power Limited, Bridport Energy Limited and Gas-Plus Synergy Limited”.

The Managing Director explained that the SPAs will facilitate the project execution and development of infrastructure led by off-takers to aid LNG delivery into the domestic market.

According to him, the execution of these SPAs follows a Domestic LNG (DLNG) Workshop which was held in November 2019 to stress test the delivery model with industry stakeholders and a series of engagements to identify suitable actors to co-create the initiative and stimulate market interest for potential off-takers.

He congratulated the Board of Directors and Shareholders for the demonstration of faith in the Decade of Gas vision, and commitment to the actualization of that vision.

He also commended the Department of Petroleum Resources (DPR) that played a critical role.

Noting that this will be the decade of gas, he urged everyone to leverage on the nation’s reserves

to accelerate power generation solutions through Gas-to-Power projects.

He projected to the stakeholders that it “will be the decade when as a nation we stop reporting deaths from pollution through the use of wood and solid fuels as domestic energy sources.

“And it will be the decade for empowering local SMEs to take advantage of the various investment opportunities that the Decade of Gas will attract”.

spokesperson
PRNigeria.com
EconomicConfidential.com
PRNigeria.com/Hausa
EmergencyDigest.com
PoliticsDigest.ng
TechDigest.ng
HealthDigest.ng
SpokesPersonsdigest.com
TeensDigest.ng
ArewaAgenda.com
Hausa.ArewaAgenda.com
YAShuaib.com
  • TAGS
  • $110 Billion
  • Asiko Power Limited
  • Bridport Energy Limited
  • Department of Petroleum Resources (DPR)
  • DES
  • Domestic LNG (DLNG)
  • Federal Government
  • LNG
  • LPG
  • Million Tonnes Per Annum (MTPA)
  • Mr Tony Attah
  • Niger
  • Nigerian Liquidfied Natural Gas
  • Nigerian Liquidfied Natural Gas (NLNG)
  • Nigerian National Petroleum Corporation (NNPC)
  • NLNG
  • NNPC
  • Plus Synergy Limited
  • Revenue
  • Sales and Purchase Agreements (SPAs)
  • SME
  • SPA
  • Tony Attah
  • US
  • USD9
Previous articleBDC Directors Urge CBN To Review N2 Margin
Next articleNIP Transactions Hit N20trn In May – NIBSS
Economic Confidential
Economic Confidential
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.

Recent Posts

  • PETROAN Sounds Alarm Over Dangote’s Fuel Market Dominance
  • CBN to Offer N162bn Worth of Treasury Bills for Subscription
  • CBN Clamps Down on Banks Under Regulatory Forbearance
  • Dangote Refinery to Commence Nationwide Distribution of Petrol, Diesel
  • Prof Omotayo Withdraws Yushau Shuaib from NIPSS Over Articles on Economy
© Newspaper WordPress Theme by TagDiv