Interesting article from The Nation which includes some badly needed stats from one of the most lucrative government owned businesses.
The Nigeria Liquefied and Natural Gas (NLNG) Limited’s planned Train Seven will yield $2.5 billion in revenues for the country and further help to reduce flared gas and the associated environment degradation when it becomes operational.
The NLNG since the commencement of full operation in 1999, has generated about $53 billion for the stakeholders within the first 10 years.
The Federal Government has also earned more than $9 billion as dividend within this period of 10 years. Before the commencement of operation, 95 per cent of 2.5 billion cubic feet of associated gas that was produced by oil companies operating was flared.
Incorporated in 1989, Nigeria LNG, Alagoa said, has a networth of more than $24 billion and remains the single biggest private sector investment in sub-Saharan Africa with the Nigerian National Petroleum Corporation (NNPC), Shell, Elf and Agip as shareholders.
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