The Federal Government has commended the Nigeria Liquefied Natural Gas Company for having 95% of its workforce as Nigerians and presently ranked as the 4th largest in the world including the company’s ability in the last 16 years to deliver $33 billion revenue to government through the Nigerian National Petroleum Corporation (NNPC) with also payment of $13 billion straight into the Federation account.
The commendation was made by the Minister of Budget and National Planning, Senator Udoma Udo Udoma on Tuesday, 15th March, 2016 when the Managing Director of the Gas company, Mr. Babs Omotowa and his management team paid him a courtesy call.
Impressed with some of the notable achievements of the company, Senator Udoma said “I am happy to hear that your work force and management team is 95% Nigerians and NLNG has reduced gas flaring from 65% to 25% and your company is the biggest shipping company in Nigeria having 23 ships, also spending N3 billion in Bonny Community as part of their corporate social responsibility. This is clearly a good example of a successful Public Private Partnership (PPP) arrangement. We should study and adopt this model.”
Commenting on the issue that the gas company might not likely meet the N400 billion as 2016 budgetary revenue expected from NLNG due to the current fall in the international oil prices that also brought drop in the revenue realized by the company. Senator Udoma responded; “although this development is not surprising, it is not good news as government needs more revenue to reflate our economy for national development.”
In her contribution, the Minister of State, Budget and National Planning, Hajiya Zainab Ahmed asked when will gas flaring end in Nigeria.
In his response, the NLNG Managing Director said the company is presently building their 7th plant that would be ready between 2021 and 2022, adding that the project, when completed, will either significantly or totally end gas flaring in Nigeria.