The Managing Director and Chief Executive Officer of Nigeria Liquefied Natural Gas (NLNG) Limited, Adeleye Falade, has disclosed that the company has paid more than N250 billion to the Rivers State Government through employee taxes.
Falade made this known on Wednesday during a visit to the Government House in Port Harcourt, noting that NLNG has generated over $30 billion in revenue since its establishment. He added that the Federal Government, which holds a 49 per cent stake in the company, has benefited significantly, receiving about $9 billion in taxes.
According to him, the company’s contributions to Rivers State have steadily increased over time. In the last decade alone, NLNG remitted N250 billion in employee taxes, while approximately N138 billion was paid between 2023 and the present. He highlighted that the highest annual remittance occurred last year, with about N46 billion paid.
Falade further revealed that within the first quarter of this year, the company had already remitted N39 billion—almost matching the total contribution recorded for the entirety of last year. He attributed this growth to the peaceful operating environment and government support, which have enabled the company to scale up its operations.
In his response, Rivers State Governor Siminalayi Fubara reaffirmed his administration’s commitment to strengthening collaboration with NLNG, describing the company’s success as crucial to both the state and the national economy.
Fubara emphasised that sustained support for NLNG and other businesses operating in the state would drive wider economic benefits, noting the interconnected growth of the state, the Federal Government, and private sector players.
