Nigeria gets $15.7bn dividend from NLNG

Nigeria gets $15.7bn dividend from NLNG


By Sebastine Obasi

LAGOS—Nigeria got a dividend of $15.70 billion from the Nigeria Liquefied Natural Gas Limited, NLNG between 2004 and 2016, facts and figures on NLNG 2017 shows.

This is coming as NLNG generated a revenue of $95 billion between 1999 and 2016. The facts and figures on NLNG 2017, which were unveiled, yesterday, in Lagos by management of NLNG, led by Managing Director, Mr. Tony Attah, also showed that the Federal Government got $5.5 billion as taxes.

Specifically, the Federal Government got the highest dividend of $2.76 billion in 2012, followed by $2.61 billion in 2008, and $2.50 billion in 2011.

Similarly, $1.40 billion was paid to the government in 2010, while, $1.38 billion, $1.26 billion, $1.04 billion, $848 million and $842 million were paid in 2014, 2013, 2015, 2009 and 2007 respectively.

The sums of $356 million, $332 million, $278 million and $57 million were also paid the Federal Government in 2016, 2006, 2004 and 2005.

Giving details of the operation of the NLNG,  Managing Director, Tony Attah, said as at December 2016, the company had shipped 3,600 cargoes to its customers, giving an average of 300 cargoes a year.

He explained that the company, which currently has six trains, had not been able to build Trains seven and eight, 10 years after they were conceived.

According to him, the two trains are expected to attract $25 billion in foreign direct investment, while 18,000 jobs will be generated from the projects.