Nigeria LNG Limited (NLNG) has posted cumulative earnings of about $150 billion, paying $47.2 billion in dividends to shareholders since it started operations.

It remitted $10.8 billion in taxes to the Federal Government as it continues to accelerate expansion plans to strengthen Nigeria’s position in the global liquefied natural gas market.

The company’s Managing Director and Chief Executive Officer, Adeleye Falade, disclosed the figures on Tuesday in Lagos during the presentation of ‘Facts and Figures 2026’, his first major media engagement since assuming office on April 1.

The performance underscores NLNG’s growing strategic importance to Nigeria’s economy at a time the Federal Government is pushing to monetise the country’s vast gas reserves and diversify export earnings beyond crude oil.

Falade said the company has generated $149.6 billion in cumulative revenue since operations commenced 37 years ago, while distributing $47.2 billion in dividends to shareholders, including the Federal Government, which holds a 49 per cent equity stake.

“We have made $149.6 billion in revenue by 2026; $10.8 billion has also been paid in tax to the Federal Government right from the time we became tax compliant,” Falade said.

According to him, NLNG has also built an asset base valued at over $22.9 billion, making it one of the country’s largest corporate assets outside government-owned oil infrastructure.

The company currently operates six liquefaction trains with a production capacity of 22 million tonnes per annum (mtpa) and has delivered more than 6,285 LNG cargoes to customers across Europe, Asia, the Middle East and other global markets.

Falade said NLNG now accounts for about six per cent of global LNG supply, reinforcing Nigeria’s relevance in the increasingly competitive international gas market.

Explaining the company’s business model, he said, NLNG does not produce natural gas but purchases gas from upstream producers for processing, liquefying, transporting and marketing it worldwide.

“We don’t produce the gas. We buy gas, just like power companies buy gas. We process it, liquefy it, transport it and sell it across the world,” he said.

The company also operates a fleet of 22 vessels, comprising 20 LNG carriers, one liquefied petroleum gas vessel serving the domestic market and another dedicated operational support vessel.

Having exited its pioneer tax status in 2009, Falade said, NLNG has become one of Nigeria’s largest taxpayers.

“Right from when we became tax compliant, we’ve paid tax in excess of $10 billion to the Federal Government,” he said.

Beyond company income tax, he explained that the firm’s contributions include petroleum-related taxes, value-added tax and other statutory levies, while about 60 per cent of payments made for gas purchases eventually accrue to the Federal Government through its interests in upstream producing companies.

He added that NLNG has remained Nigeria’s most tax-compliant corporate organisation for five consecutive years.

On domestic energy supply, the NLNG boss said the company supplied a record 500,000 tonnes of liquefied petroleum gas (LPG), commonly known as cooking gas, to the Nigerian market last year, representing about 33 per cent of national demand.

The volume marks a sharp increase from about 70,000 tonnes supplied when domestic distribution commenced in 2005.

“Last year was the highest volume we’ve ever supplied in a single year when we supplied 500,000 tonnes of LPG. Today, that’s about 33 per cent of what the country demands,” he said.

Falade disclosed that since 2022, NLNG has dedicated 100 per cent of its LPG production to the Nigerian market, ending exports in a move aimed at improving access to cleaner cooking fuel.