NLNG Total Investment in Bonny Island Now $30b

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  • NLNG Total Investment in Bonny Island Now $30b

The Nigerian Liquefied Natural Gas Company (NLNG) has invested a total sum of $30 billion or N10.8 trillion in various projects in Bonny Island, Rivers State, according to Mr. Tony Attah, the managing director, NLNG.

Attah made the statement on Sunday during NLNG’s 20/30 anniversary celebration.

The company used the occasion to celebrate its 20 years in Bonny and 30 years of incorporation as a company.

Attah said: “NLNG’s combined scale of investment in the Bonny Kingdom is more than $30 billion in assets, making it the most developed community in the Niger Delta.

“Our several accomplishments in the kingdom range from our provision of modern road network, potable water and Finima Nature Park to residents of Bonny.

“Also, we invested in electricity that perhaps has made Bonny the only community in Nigeria with 99 percent electricity and preferred investors and tourist destination,” he said.

He also revealed the completion of an airstrip that is capable of receiving 60-passenger capacity aircraft, one of the largest in Africa.

Attah added that the company has provided N60.3 billion (counterpart funding of N120.6 billion) for the construction of 34 kilometre Bonny-Bodo road project connecting Bonny Island to the rest of the country.

“The ongoing road project, which we are co-sponsoring with the federal government, is expected to be completed within 48 months, thus triggering development and tourism in the area.

“We have also launched the malaria elimination initiative as well as the Bonny Community Health Insurance Programme in conjunction with Rivers State Government to provide affordable healthcare for the people.

“The company achieved these milestones due to the cordial and peaceful relationship existing between Bonny and Nigeria LNG in the last 20 years,” he added.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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