NLNG Contributes N250 Billion in Taxes to Rivers State

Adeleye Falade, the Managing Director and Chief Executive Officer of Nigeria Liquefied Natural Gas (NLNG) Limited, announced that the company has disbursed more than N250 billion to the Rivers State government via employee tax contributions.

During a visit to the Government House in Port Harcourt on Wednesday, Falade also stated that NLNG has generated over $30 billion in revenue since its establishment, with the federal government holding a 49 per cent stake and receiving approximately $9 billion in taxes from this investment.

"Since the inception of the company we have generated in excess of $30 billion in terms of revenue. We paid shareholders of which the federal government has gotten 49 per cent of that. We have paid an additional $9 billion in taxes to the federal government just by reason of this investment.

"In the last 10 years, as a company through employee tax we have been able to pay N250 billion to Rivers State government and every year it continues to get more and more. In the last three years from 2023 till date about N138 billion has been paid with the highest being last year that the company remitted about N46 billion.

"In the first three months of this year we have already done N39 billion, almost equally what we did the whole of last year. Maybe because of the very peaceful environment that we enjoy, the kind of intervention we enjoyed from you last year has enabled our operations to go at scale," he explained.

He expressed gratitude to Governor Siminalayi Fubara for fostering a strong working relationship, particularly in addressing pipeline vandalism and ensuring operational stability.

Falade highlighted that recent improvements in security have allowed NLNG to expand its operations, leading to increased productivity and revenue.

He reaffirmed NLNG's dedication to contributing to the socio-economic development of Rivers State through investments in education, youth empowerment, and community development programmes.

He mentioned that the company has invested substantial funds in school renovation projects under its General Memorandum of Understanding (GMOU) and offers vocational training to build local capacity in the Niger Delta.

According to him, the company's performance is on an upward trajectory, evidenced by significant remittances in recent years, and he anticipates even higher returns in 2026, attributing this to a peaceful operating climate and ongoing government support.

The NLNG chief stressed the importance of ongoing collaboration with the Rivers State government and host communities for achieving long-term economic growth and regional stability.

Governor Fubara, in his response, reiterated his administration's commitment to maintaining a strong partnership with NLNG, recognizing the company's success as crucial for the advancement of both the state and the nation.

Fubara emphasized that continued government backing for NLNG and other businesses in the state would yield broader economic benefits for Nigeria, noting the interconnectedness of the state's, federal government's, and private sector enterprises' fortunes.

"We are the ones here. If we don’t support you and you don’t succeed, we also will not succeed, and the country will not succeed. So you can always count on our support," the governor stated, promising seamless collaboration across all government tiers.

The governor also appealed to NLNG to assist in revitalizing the Bonny General Hospital, requesting the company to reinstate incentives that previously attracted medical professionals to the facility.

He reminisced about a time when the hospital flourished due to NLNG's robust community engagement and incentive schemes, which made appointments in Bonny appealing to healthcare workers. However, he expressed concern over the facility's current decline, which has forced residents to seek services from unqualified practitioners.

Fubara revealed that the state government had already begun efforts to restore the hospital following a tragic incident involving a patient's death at an unregistered clinic, which underscored the facility's poor condition.

He urged NLNG to complement the government's initiatives by reintroducing its former support systems, emphasizing that enhanced healthcare services are vital for overall community development.

The governor further lauded NLNG for its resilience and operational achievements despite Nigeria's challenging business landscape, attributing its sustained success to a model that leverages private sector expertise for operations while the government provides oversight.

Blessing Ibunge