NLNG revenue generation has grown to $90bn – MD

The managing director and chief executive officer of Nigeria LNG Limited (NLNG), Tony Attah, over the weekend said the company has generated over N90 billion in revenue to federal government.

Attah also said that the NLNG’s planned Train 7 Project, which will increase production output of its plant from 22 Million Tonnes Per Annum (MTPA) to 30 MTPA, will also lift Foreign Direct Investment (FDI) in the country. He said this during the visit of the Honourable Minister of Finance, Kemi Adeosun, to the NLNG’s plant complex on Bonny Island, Rivers State.

Briefing the Minister on NLNG’s operations and business, the MD said NLNG will be seeking an estimation of $7 billion from the global international markets to cover the construction of Train 7) (and investment in the upstream gas sector in Nigeria that will ensure the sustainability of feedgas supply to its existing trains (Trains 1 to 6) and the new Train 7.

He remarked that only recently, NLNG commemorated the repayment of a US$5.45 billion Shareholder loan. The consolidated loan contributed towards funding the Base Project, Expansion Project, NLNG Plus Project and Train 6.