OPINION: Tinubu Has Had Enough of Gas Going Up In Flames

Nigeria has gas everywhere, yet somehow the country can still watch valuable gas go up in flames while millions of Nigerians struggle with expensive energy, and President Bola Tinubu is now telling NLNG that perhaps burning wealth into the atmosphere is not exactly the best business strategy.

Speaking at the State House on August 26, Tinubu urged the company to intensify efforts to stop gas flaring and turn what is currently an environmental liability into something that benefits Nigerians economically, particularly through greater domestic utilisation.

The President said NLNG should look beyond earning from international markets and help make Nigeria’s own gas resources more useful and accessible at home, while the government would consider incentives to support further expansion and better pricing mechanisms for ordinary consumers.

NLNG says it has generated more than $150 billion since inception, with about $47 billion paid in dividends to its shareholders, including the Nigerian government which owns 49 percent of the company.

Its operations had previously been limited to four of six trains because of inadequate crude supply, but increased production has now allowed five trains to operate, while Train Seven is being prepared for inauguration and is expected to raise capacity by another 35 percent.

The company also says all its LPG, or cooking gas, is currently supplied to the domestic market, while the NLNG-funded Bonny-Bodo Road and Bridge has been completed and awaits commissioning.

With Nigeria sitting on vast gas resources, the message from Tinubu is essentially simple, stop watching potential wealth disappear into the sky and start making the gas work for the people below, because Nigerians have seen enough flames and would rather see affordable energy.