Nigeria LNG Limited has generated more than $150 billion in revenue and exported over 6,000 liquefied natural gas cargoes worldwide since beginning operations, underscoring its expanding role in Nigeria’s economy as the country seeks to maximise the value of its vast natural gas reserves.

The company said it has paid more than $47.2 billion in dividends to shareholders, remitted over $10 billion in taxes to the Federal Government, and built an asset base worth about $23 billion, reinforcing its position as one of Nigeria’s largest contributors to government revenue.

NLNG’s Managing Director and Chief Executive Officer, Mr. Adeleye Falade, disclosed the figures on Tuesday during his first media engagement since assuming office on April 1, 2026.

The briefing, held in Lagos, also outlined NLNG’s expansion strategy, including progress on the completion of Train 7 and preliminary discussions on the development of Trains 8, 9 and 10, as the company moves to strengthen Nigeria’s position in the global liquefied natural gas market.

Taking journalists through NLNG’s performance over the past 37 years, Falade said the company has grown into one of the world’s leading LNG exporters, safely delivering more than 6,000 cargoes to customers across Europe, Asia, the Middle East and other international markets.

He clarified that, contrary to the common perception that NLNG produces natural gas, the company buys gas from upstream producers, processes it by removing impurities, liquefies it, transports it aboard specialised vessels, and markets the product to customers around the world.

“We don’t produce the gas. We buy gas, just like power companies buy gas. We process it, liquefy it, transport it and sell it across the world,” he said.

Falade said NLNG currently operates six liquefaction trains with a combined production capacity of 22 million tonnes per annum, describing its Bonny Island plant as the largest industrial complex in Sub-Saharan Africa.

He added that the company operates a fleet of 22 dedicated vessels, comprising 20 LNG carriers, one liquefied petroleum gas (LPG) vessel serving the domestic market, and another vessel dedicated to supporting its operations.

On the company’s financial performance, Falade said NLNG has generated about $150 billion in cumulative revenue since it commenced operations 37 years ago.

He added that NLNG has paid $47.2 billion in dividends to shareholders since inception, while its assets are currently valued at about $23 billion.

“Our assets are currently valued at about $23bn. Right from where we started, we generated about $150bn in revenue. We managed to pay almost $50bn as dividends to our shareholders,” he said.

According to him, the Federal Government remains the company’s largest shareholder through its 49 per cent equity stake, while Shell, TotalEnergies and Eni hold the remaining shares.

Falade also said that following the expiration of its pioneer tax status, NLNG has become one of Nigeria’s largest taxpayers, having remitted more than $10 billion in taxes to the Federal Government.

“Right from when we became tax compliant, we’ve paid tax in excess of $10bn to the Federal Government,” he stated.

He noted that NLNG’s contributions to government revenue extend beyond company income tax, explaining that about 60 per cent of the payments the company makes for gas purchases ultimately flow back to the Federal Government through its equity interests in upstream oil and gas producing companies.

He added that the company also remits petroleum-related taxes, value-added tax, and other statutory levies. Falade said NLNG has been recognised as Nigeria’s most tax-compliant corporate organisation for five consecutive years, while also contributing significantly through Pay-As-You-Earn tax deductions from its employees.

On domestic gas utilisation, Falade disclosed that NLNG supplied a record 500,000 tonnes of liquefied petroleum gas (LPG), commonly known as cooking gas, to the Nigerian market last year.

He said the volume was the highest annual domestic LPG supply since NLNG began local distribution in 2005 with just 70,000 tonnes. According to Falade, despite increasing its domestic supply more than sevenfold, the company currently meets only about one-third of Nigeria’s cooking gas demand, underscoring the need for greater investment to expand supply.

“Last year was the highest volume we’ve ever supplied in a single year when we supplied 500,000 tonnes of LPG. Today, that’s about 33 per cent of what the country demands,” he said.