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NLNG: We’ve paid $17bn dividends to FG since inception

NLNG: We’ve paid $17bn dividends to FG since inception
May 18
10:25 2020
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The Nigeria LNG (NLNG) says it has paid $17 billion in dividends to the federal government through the Nigerian National Petroleum Corporation (NNPC).

In tweets to celebrate its 31 years of existence, the company said it has generated $108 billion in revenue.

“With 22 million tonnes per annum (MPTA) six-train on Bonny Island, Nigeria LNG has reduced gas flaring from 65% to less than 20%,” it said.

“Generated over $108 billion in revenue, paid over $8 billion in taxes, paid over $13 billion to FGN (NNPC) for feed-gas purchase.

“Nigeria LNG had paid over $17 billion in dividends to FGN (NNPC), ensured the supply of 50% of cooking gas in Nigeria, achieved 100% Nigerian management and achieved 95%, Nigerian staff.

“We are leaders in corporate social responsibility (CSR): with FGN, we are building Bonny-Bodo road worth over N120 billion, sponsors $100,000 @NGRlitprize & @NGRscienceprize each, NLNG sponsored scholarships.”

In addition, the company said it has provided N2 billion through its university support programmes and N1 billion COVID-19 support to Rivers state and contributed to the NNPC-led COVID19 oil and gas industry initiative.

NLNG recently signed the engineering, procurement, and construction (EPC) contracts for its seventh production line with the SCD JV consortium.

The contracts signal the beginning of the detail design and construction of the project which is expected to increase the current production capacity from 22 million tonnes per annum (MTPA) of liquefied natural gas (LNG) to 30 million tonnes per annum.

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