Tinubu urges NLNG to turn gas flaring into economic gains for Nigerians

President Bola Tinubu has urged the Nigeria Liquefied Natural Gas (NLNG) to reduce gas flaring and convert the country’s gas reserves into economic benefits for Nigerians.

Tinubu spoke on Wednesday at the State House in Abuja when he received members of the NLNG board, led by its Managing Director and Chief Executive Officer, Adeleye Falade.

The President said while the company was making progress in increasing its capacity and revenue, greater attention should be paid to the domestic utilisation of gas.

“My major concern is the domestic utilisation, where 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 country,” he said.

Tinubu said Nigeria should maximise its natural resources to support the economy and improve the welfare of citizens.

He also pledged to provide incentives that would enable NLNG to expand its operations and maximise its potential.

“Whatever asset that we have in the ground is nothing unless it’s brought up to service the economy, the people, and realisation of a good return on investment,” the President said.

He further urged the company to consider the domestication of energy requirements and pricing mechanisms to ensure ordinary Nigerians benefit from the country’s resources.

Earlier, Falade told the President that NLNG had generated more than $150 billion since its inception, with its shareholders, including the Nigerian government, receiving about $47 billion in dividends.