President Bola Ahmed Tinubu has urged Nigeria LNG Limited (NLNG) to reduce gas flaring and make better use of the country’s gas resources for the benefit of Nigerians.

Tinubu made the call on Wednesday when the NLNG Board, led by its Managing Director and Chief Executive Officer, Adeleye Falade, met with him at the State House in Abuja.

The President commended NLNG for improving its operations and generating revenue for its shareholders. However, he stressed the need to focus more on the domestic use of gas and ensure that Nigerians benefit from the country’s natural resources.

Tinubu said gas flaring should be reduced and turned into an economic opportunity while also addressing its environmental impact. He added that the government would provide necessary support and incentives to help NLNG expand its operations.

Earlier, Falade disclosed that NLNG had generated more than $150 billion since it began operations, while its shareholders, including the Federal Government, had received about $47 billion in dividends. The Federal Government owns a 49 per cent stake in the company.

Falade also said NLNG had increased its operating capacity from four to five production trains due to improved crude oil production in the country. He added that the planned Train Seven project would further increase the company’s capacity by 35 per cent.

He noted that NLNG currently accounts for about five per cent of the global Liquefied Natural Gas market, while all its Liquefied Petroleum Gas (LPG), commonly known as cooking gas, is supplied to the domestic market.

Falade further disclosed that the Bonny-Bodo Road and Bridge project, funded by NLNG, had been completed and was awaiting official commissioning.

The meeting was attended by senior government officials and members of the NLNG Board and management.