Nigeria’s revenue from Nigeria Liquefied Natural Gas (NLNG) Limited has dropped by 43% due to persistent gas supply issues.
In 2023, the federal government’s revenue from NLNG was N46.2 billion, falling short of the target of N81.79 billion.
The decline is attributed to constraints in gas supply, impacting NLNG’s output and expansion plans.
The ongoing $4.3 billion Train-7 project, aimed at increasing LNG production capacity, faces concerns over future feedstock availability.
Industry experts call for improved fiscal frameworks and security measures to address production shortages and enhance gas commercialization.
They emphasize the need for better infrastructure and investment to boost Nigeria’s gas sector and revenue.
(Business Day)