Tinubu backs $5bn LNG floating project, eyes 2026 kickoff

President Bola Tinubu, on Wednesday, lent his support to the implementation of a $5bn floating Liquefied Natural Gas project planned to supply 40 per cent of the nation’s gas needs by Q4 2026.

Tinubu voiced his support for the project when he received a group of joint venture partners consisting of UTM FLNG, TECHNIP Energies and JGC Corporation at the Presidential Villa, Abuja.

Leader of the delegation and Group Managing Director of UTM FLNG, Julius Rone, disclosed this to State House Correspondents at the end of the meeting. He revealed that the multi-floating LNGs are being implemented with a $5bn loan from AFRIEXIM Bank.

This, he said, removes financing obstacles ahead of the 2026 kickoff.

He noted that Tinubu assured the ventures involved of his administration’s commitment to fully support the project because it aligns with his programme to revive the economy and provide more jobs.

By Stephen Angbulu

https://punchng.com/tinubu-backs-5bn-lng-floating-project-eyes-2026-kickoff/