NLNG Remits N250 Billion in Employee Taxes to Rivers State as Annual Contributions Surge

NLNG MD Adeleye Falade reveals N250 billion in employee taxes paid to Rivers State. Governor Fubara calls for hospital support amid record 2026 revenue trends.

By: AXL Media

Published: Apr 9, 2026, 6:09 AM EDT

Source: Information for this report was sourced from THISDAYLIVE

Tax Contributions Drive State Revenue Growth

Nigeria Liquefied Natural Gas Limited has channeled over N250 billion into the Rivers State treasury through employee income taxes over the past decade. During a high level visit to the Government House in Port Harcourt, Managing Director Adeleye Falade detailed a significant acceleration in these remittances, noting that N138 billion was paid between 2023 and the present day. Last year alone, the company remitted N46 billion, a figure that is already being challenged by the performance in early 2026. Falade revealed that in the first quarter of this year, NLNG has already contributed N39 billion, nearly matching the entirety of the previous year's total in just three months.

National Economic Impact and Revenue Generation

The scale of NLNG’s operations has provided a substantial fiscal cushion for the federal government, which holds a 49 percent stake in the enterprise. Since its founding, the company has generated total revenue exceeding $30 billion, with the federal government receiving approximately $9 billion in direct taxes. This financial performance is closely tied to the stability of the Niger Delta, where government interventions have helped secure critical infrastructure. Falade noted that the peaceful environment and the reduction in pipeline vandalism have enabled operations to continue at scale, directly translating into higher productivity and increased tax yields for both state and federal authorities.

Strategic Partnership and Operational Stability

Governor Siminalayi Fubara has underscored the symbiotic relationship between the state government and major corporate entities like NLNG. In his remarks, the governor emphasized that the success of private enterprises is a prerequisite for national economic health, stating that if the company does not succeed, the country cannot succeed. Fubara assured the NLNG leadership of continued support across all levels of government to ensure a seamless operating environment. This collaboration is viewed as essential for maintaining the momentum that has seen NLNG thrive despite the broader challenges found within the Nigerian business landscape.