Home Business NLNG RESTATES COMMITMENT TO DEVT, PRESENTS 2014 FACTS, FIGURES

NLNG RESTATES COMMITMENT TO DEVT, PRESENTS 2014 FACTS, FIGURES

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By Bankole Adesina

Nigeria LNG Limited at the weekend hosted the presentation of its 2014 Facts and Figures publication at a ceremony in Lagos, led by its Managing Director, Mr. Babs Omotowa, the company’s new Deputy Managing Director, Mr. Isa Mohammed Inuwa, General Counsel and Company Secretary, Ms. Edith Unuigbe and other senior company executives.

Speaking at the ceremony, Omotowa said: “As a world-class company with a vision to help build a better Nigeria, the Facts and Figures on NLNG presents another opportunity for NLNG to openly and transparently share information on its operation and engage key stakeholder groups with a view to fostering free flow of information, in line with company policy.

“The Managing Director used the occasion to review the company’s performance in various areas including Operations, Corporate Social Responsibility, Nigerian content, Shipping, Health, Safety and Environment (HSE) as well as the company’s contribution to the Nigerian economy and business outlook for the future.

Omotowa reiterated the company’s commitment towards helping to build a better Nigeria through human capital and business development. NLNG initiated a one billion dollar Vendor Finance Scheme in 2013, which affords local businesses access to low cost finance to encourage local content development and enable growth. More recently, NLNG also announced a $12 million University Support Programme to build or upgrade and equip engineering laboratories in six universities across Nigeria’s geo-political zones to boost teaching and research.

According to Mr Omotowa: “The company is desirous of receiving constructive feedback from a broad range of stakeholders in support of performance enhancement.”

Nigeria LNG Limited is the most significant arrow-head of the federal government’s quest to eliminate gas flaring and derive value from the country’s 187 trillion cubic feet of proven gas reserves.

NLNG is owned by four shareholders, namely, the Federal Government of Nigeria, represented by the Nigerian National Petroleum Corporation, NNPC (49%), Shell Gas BV, SGBV (25.6%), Total LNG Nigeria Limited (15%), and Eni International (N.A) N. V. S. a. r. l (10.4%)

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