Adeleye Falade, the managing director and CEO of Nigeria Liquefied Natural Gas (NLNG) Limited, disclosed that the company has given the Rivers State government more than N250 billion through employee taxes.
Falade said that NLNG had made over $30 billion in money since its founding, with the federal government obtaining a 49% part, including about $9 billion in taxes, during a visit to the Government House in Port Harcourt yesterday.
“Since the company’s founding, we have generated over $30 billion in revenue,” he stated. Of the money we paid shareholders, 49% went to the federal government. Because of this investment alone, we have paid an extra $9 billion in taxes to the federal government.
“As a corporation, we have been able to pay the Rivers State government N250 billion over the past ten years through employee tax, and the amount is growing every year. Approximately N138 billion has been paid throughout the last three years, starting in 2023, with the largest amount being N46 billion last year.
“We have already completed N39 billion in the first three months of this year, which is about comparable to what we completed last year. The kind of help we received from you last year has allowed our operations to proceed at scale, perhaps due to the extremely tranquil environment we enjoy,” he stated.
He thanked Governor Siminalayi Fubara for preserving a solid working relationship with the corporation, especially in dealing with pipeline vandalism and guaranteeing a stable operational environment.
Falade pointed out that the company has been able to expand operations, increasing income and productivity, thanks to recent improvements in security.
He restated NLNG’s dedication to supporting Rivers State’s socioeconomic development by funding community development programs, youth empowerment, and education.
He claims that under its General Memorandum of Understanding (GMOU), the corporation has spent billions of naira on school renovation projects and vocational training initiatives meant to increase indigenous capacity in the Niger Delta.
Citing notable remittances in recent years, he stated that the company’s profitability is still improving and expressed hope that 2026 will see even greater returns due to a calm operating climate and ongoing government backing.
In order to achieve long-term economic growth and stability in the area, the NLNG boss insisted that ongoing cooperation with the Rivers State government and host communities is crucial.
In his speech, Fubara reiterated his administration’s dedication to maintaining a strong collaboration with the business, characterizing its success as essential to the development of the state and the country.
Given the intimate relationship between the state’s, the federal government’s, and private businesses’ fortunes, Fubara emphasized that sustained government support for NLNG and other corporate entities operating in the state will result in wider economic benefits for Nigeria.
“We are the ones present. We won’t succeed and the nation won’t succeed if we don’t help you. Thus, you can always rely on our assistance,” the governor assured the business, promising smooth cooperation at all governmental levels.
Additionally, the governor urged NLNG’s leadership to help the Bonny General Hospital’s revitalization by reintroducing the incentives that once drew medical professionals to the hospital.
He recalled that the hospital had prospered in the past because of NLNG’s strong community involvement and incentive programs, which attracted medical professionals to postings to Bonny. He did, however, voice worry that people were being forced to seek care from unqualified physicians due to the facility’s deterioration.
After a patient’s death in a quack clinic brought attention to the hospital’s deterioration, Fubara disclosed that the state government had already started measures to rebuild the facility.
Noting that better healthcare delivery was essential to overall community development, he urged NLNG to support government initiatives by restoring its previous support mechanisms.
The governor also praised NLNG for its tenacity and operational success in the face of Nigeria’s difficult business climate, crediting its longevity to a business model that lets the private sector lead operations while the government oversees them.
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