NLNG to Support Diversification of Nigeria’s Revenue Sources

Nigeria LNG Limited has reaffirmed its commitment to economic development through the Train 7 project on Bonny Island, aligning with President Bola Tinubu’s 8-point agenda that includes poverty eradication, infrastructure improvement, economic growth, and increased access to capital.

During a session of the Senate and House of Representatives’ Joint Committee on Gas, NLNG’s General Manager of External Relations and Sustainable Development, Andy Odey, confirmed that the $4.3 billion project is 67% complete, having achieved over 45 million man-hours of construction without any Lost Time Injuries (LTI).

Odey highlighted the project’s immediate benefits, noting that over 9,000 Nigerians are currently employed on Bonny Island, with numerous indirect jobs and businesses thriving due to the ongoing construction.

He stated, “The Train 7 project is a strategic initiative that will support the diversification of the country’s revenue sources, generate revenue during the energy transition, and assist Nigeria in achieving a net-zero future.”

The General Manager emphasized the project’s importance in monetizing Nigeria’s vast gas resources, which are estimated at over 200 trillion cubic feet (tcf) of proven reserves. He stressed that the initiative serves as a model for other gas development projects aimed at enhancing gas monetization and utilization in Nigeria.

He further noted that the project aligns with Nigeria’s gas development goals and is essential for securing the nation’s future, especially as the world moves towards a net-zero carbon footprint.

Odey commended the National Assembly and called on all stakeholders to create an enabling environment that would attract more transformational projects to Nigeria.

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