Tinubu Gives NLNG Fresh Mandate to reduce Cooking Gas prices for Nigerians
- President Tinubu has urged NLNG to increase domestic gas utilisation, end gas flaring and make Nigeria’s abundant gas resources more affordable
- He said gas flaring should be converted from an environmental liability into an economic resource while assuring NLNG of government support
- NLNG MD said the company sends 100% of its cooking gas to the Nigerian market, with Train 7 expected to increase domestic supply
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
President Bola Ahmed Tinubu has directed the Nigeria Liquefied Natural Gas Limited (NLNG) to increase the domestic use of gas, reduce gas flaring and ensure that the country’s vast gas reserves translate into more affordable energy for Nigerians.
The President said Nigeria’s natural resources would have little economic value if they remained untapped or failed to improve citizens’ lives. He urged NLNG to balance its efforts to grow international revenue with the need to make gas more accessible and affordable within the country.
Source: UGC
Tinubu gave the charge on Wednesday, August 26, when he received the Board of Directors and Executive Leadership of NLNG, led by the company’s Managing Director, Adeleye Falade, at the State House in Abuja.
Tinubu wants gas flaring turned into economic value
The President specifically challenged NLNG to develop solutions for gas that is currently being flared, saying the practice creates environmental problems while wasting a potentially valuable economic resource.
The President said:
“My major concern is the domestic utilization. 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 in the republic.”
Tinubu acknowledged the company’s efforts to expand its operations and benefit from rising demand in international markets. However, he maintained that Nigerians must also experience the benefits of NLNG’s growth through improved domestic gas supply and lower energy costs.
The President praised the NLNG board and management for sustaining the vision behind the company’s establishment and commended their teamwork and leadership.
He also assured the company of his administration’s willingness to provide additional incentives to support growth and increase NLNG’s capacity.
NLNG plans higher domestic cooking gas supply
Speaking to journalists after the meeting, Falade said Tinubu’s emphasis on domestic energy availability was consistent with NLNG’s plans to expand production, particularly through the ongoing Train 7 project.
According to him, NLNG would continue to focus on operational efficiency while strengthening its contribution to Nigeria’s energy security, revenue generation and job creation.
Falade said the company currently directs all of its cooking gas production to the Nigerian market and has no plans to change that arrangement.
He said:
“So we’re not only generating revenue, but we’re also generating employment. But we’re making cooking gas available domestically. 100% of our cooking gas in Nigeria comes into the Nigerian market, and nothing is going to change from that."
Source: Twitter
He further disclosed that once Train 7 is completed, NLNG’s capacity to supply cooking gas to the domestic market would rise by 50%
The expected increase would directly support Tinubu’s call for Nigerians to benefit more from the country’s abundant gas resources, while reinforcing NLNG’s role in meeting domestic energy needs.
Source: Legit.ng
