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LequteMan
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Nigeria Liquefied Natural Gas Company Limited (NLNG), has generated some 85 billion dollars from exports since its inception 15 years ago, the company announced late Friday.
“For us, it has been a success story. Between 1999 when we came on stream and now, we have realised some 85 billion dollars from exports of liquefied natural gas to buyers in Europe, America and Asia,” chief executive Babs Omotowa said.
“Just a few days ago, we paid 1.6 billion dollars to the government as tax and this will go a long way to assist the new government in solving some of its problems,” he said.
The Nigerian government is currently facing a cash crunch with 20 states unable to pay workers' salaries.
Omotowa said the company had paid $30 billion in dividends to its shareholders over the years, including the government, which owns a 49% stake through the Nigerian National Petroleum Corporation (NNPC).
NLNG’s other shareholders are Anglo-Dutch oil major Shell, which owns 25.6%, Total LNG Nigeria, a subsidiary of French oil giant Total which owns 15%, and Italy’s Eni, which has 10.4%.
Omotowa said plans were afoot to expand the NLNG plant in Finima on Bonny island, in the oil and gas-rich southern Rivers state, by 2017.
“For us, it has been a success story. Between 1999 when we came on stream and now, we have realised some 85 billion dollars from exports of liquefied natural gas to buyers in Europe, America and Asia,” chief executive Babs Omotowa said.
“Just a few days ago, we paid 1.6 billion dollars to the government as tax and this will go a long way to assist the new government in solving some of its problems,” he said.
The Nigerian government is currently facing a cash crunch with 20 states unable to pay workers' salaries.
Omotowa said the company had paid $30 billion in dividends to its shareholders over the years, including the government, which owns a 49% stake through the Nigerian National Petroleum Corporation (NNPC).
NLNG’s other shareholders are Anglo-Dutch oil major Shell, which owns 25.6%, Total LNG Nigeria, a subsidiary of French oil giant Total which owns 15%, and Italy’s Eni, which has 10.4%.
Omotowa said plans were afoot to expand the NLNG plant in Finima on Bonny island, in the oil and gas-rich southern Rivers state, by 2017.
