LNG money: Nigerian company generates $85b in 15 years
The company, set up to harness Nigeria’s vast natural gas resources, has paid billions of dollars to the state in tax
Just a few days ago, we paid $1.6 billion to the government as tax. STOCK IMAGE
LAGOS:
Nigeria Liquefied Natural Gas Company Limited (NLNG), a joint venture between the government and foreign oil majors, has generated some $85 billion from exports since its inception 15 years ago.
“For us, it has been a success story. Between 1999 when we came on stream and now, we have realised some $85 billion from exports of LNG to buyers in Europe, America and Asia,” said NLNG Chief Executive Babs Omotowa.
He said the company, which was set up to harness Nigeria’s vast natural gas resources and produce liquefied natural gas for export, has also paid billions of dollars to the state in tax.
“Just a few days ago, we paid $1.6 billion to the government as tax and this will go a long way to assist the new government in solving some of its problems,” he said.
Published in The Express Tribune, June 21st, 2015.
Nigeria Liquefied Natural Gas Company Limited (NLNG), a joint venture between the government and foreign oil majors, has generated some $85 billion from exports since its inception 15 years ago.
“For us, it has been a success story. Between 1999 when we came on stream and now, we have realised some $85 billion from exports of LNG to buyers in Europe, America and Asia,” said NLNG Chief Executive Babs Omotowa.
He said the company, which was set up to harness Nigeria’s vast natural gas resources and produce liquefied natural gas for export, has also paid billions of dollars to the state in tax.
“Just a few days ago, we paid $1.6 billion to the government as tax and this will go a long way to assist the new government in solving some of its problems,” he said.
Published in The Express Tribune, June 21st, 2015.