This year I have decided to begin a series of web logs that will give an insight into the corporate performance of some of Nigeria’s biggest companies. One of such companies in the Nigeria LNG Ltd which is party owned by the NNPC (49%), Shell (25.6%), Total LNG Nigeria Ltd (15%) and Eni (10.4%). It is obviously one of Nigeria’s biggest company and one which the people of Nigeria should be interested in tracking its performance.
I went to their website and searched got any document that will give me an insight into the financial performance of the company. I found a document called “Facts and Figures 2012“which literally speaking should provide one with all the details you need. Sadly, the fact and figures was more like a photo album as it contained a lot more pictures of their offices and offshore activities rather than details of their operational performance. I found nothing on Revenue generated in the current financial year or prior years neither did I find the Statement of Affairs of the Company. No audited accounts whatsoever and nothing on that could give one an inkling to the value of the company. In fact you get more details on their charitable activities than their actual operations