Rivers Receives N250 Billion from NLNG Employee Tax Contributions

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 in employee taxes.

Falade said that NLNG has made over $30 billion in revenue since its founding, with the federal government obtaining a 49% part, including over $9 billion in taxes, during a visit to Government House in Port Harcourt yesterday.

He stated: “We have made more than $30 billion in revenue since the company’s founding. The federal government received 49% of the money we paid to stockholders. Just because of this investment, we have paid an extra $9 billion in taxes to the federal government.

“Over the past ten years, our company has been able to pay the Rivers State government N250 billion through employee tax, and this amount is growing every year. Approximately N138 billion has been paid over the past 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 nearly equal to what we completed last year.” The kind of intervention we received from you last year has allowed our operations to proceed at scale, perhaps due to the extremely tranquil environment we enjoy,” he remarked.

He thanked Governor Siminalayi Fubara for preserving a solid working relationship with the business, especially in dealing with pipeline vandalism and guaranteeing a stable operating environment.

Falade stated that the company has been able to grow up operations, increasing income and productivity, thanks to recent improvements in security.

He reaffirmed NLNG’s dedication to supporting Rivers State’s socioeconomic development by funding community development programs, education, and youth empowerment.

He claims that under its General Memorandum of Understanding (GMOU), the corporation has committed billions of naira in school renovation projects and vocational training initiatives meant to increase indigenous capability 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 larger 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 CEO 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 alliance with the business, characterizing its success as essential to the development of the state and the country.

Given the intimate relationship between the state, federal government, and private businesses, 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.” If we don’t help you and you fail, neither we nor the nation will be able to succeed. The governor assured the business of smooth cooperation at all governmental levels, saying, “So you can always count on our support.”

Additionally, the governor urged NLNG’s leadership to help the Bonny General Hospital’s revitalization by reintroducing incentives that had previously drawn medical professionals to the hospital.

He noted that in the past, the hospital prospered because of NLNG’s significant community involvement and incentive programs, which attracted medical professionals to transfer to Bonny. He was worried, though, that residents were being forced to seek care from unqualified physicians due to the facility’s deterioration.

Fubara disclosed that after a patient’s death in a quack clinic brought attention to the hospital’s deterioration, the state government had already started the process of restoring the facility.

He emphasized that better healthcare delivery was essential to the development of the community as a whole and urged NLNG to help government initiatives by restoring its previous support mechanisms.

The governor also praised NLNG for its operational success and perseverance in the face of Nigeria’s difficult business climate, crediting its longevity to a model that lets the private sector lead operations while the government maintains control.