By Amos Tauna
Nigeria minister of information and culture, Alhaji Lai Mohammed, has described the Nigeria Liquefied Natural Gas, NLNG, Limited, as a shinning example of the Nigerian success story in management and
A statement from Segun Adeyemi, Special Adviser to the minister said the Minister stated this on Bonny Island, Rivers State, on Tuesday after a facility tour of the plant of the NLNG, a company that is being managed 100 per cent by Nigerians and has 95 per cent Nigerian
“Until I came here I did not know that Nigeria has a humongous asset as the NLNG. I have been reading about NLNG but coming here and having a first hand experience and information, the briefing and the tour of the place have actually changed my mind completely about the NLNG.
“I am inspired, excited and proud to be a Nigerian. This probably is the best success story of this country and my pride largely derives from the fact that this company is run by Nigerians. The management entirely represents Nigeria and when you look at the complexity of the operation, I’m also very proud that this is coming from Nigeria,” he
Alhaji Mohammed said the NLNG was the incubator for the growth of the nation’s oil and gas industry, stressing that if adequately encouraged, the company will replicate in Nigeria the kind of transformation that Qatar did with its gas reserves.
The Minister urged the media to continue to project the NLNG positively to ensure that the vision of the company wss realized.
In his remarks, the Managing Director of the NLNG, Mr. Tony Attah, said the time has come for Nigeria to unleash its gas potential and power the economy, especially as the country has the ninth largest gas
reservoir in the world with a proven 187 trillion cubic feet.
Mr. Attah said in order to realise the dream, the NLNG is embarking on the ambitious project for the construction of Trains 7 and 8, that would attract $25 billion Foreign Direct Investment and the creation of 18,000 jobs in the construction phase alone.
“It’s time for gas and it’s time for Nigeria and we believe this is possible. We see that opportunity from Trains 7 and 8 unleashing the gas potential. We see deliberate opportunities of the country going
after the 600TcF of gas (reserve). In building Trains 7 and 8, potential investment that will be coming is about $25 billion,” he explained.
Mr. Attah said the country, through the NLNG, had succeeded in reducing gas flaring from 65 per cent to 20 per cent, pointing out that it would continue to diversify the energy resources and monetize gas in the country.
According to Mr. Attah, the NLNG had so far paid $5.5 billion in taxes and $15 billion in dividends to the Federal Government and has spent $13 billion on the purchase of gas to process into liquefied form.