NIPCO Group has announced plans to develop a Floating Liquefied Natural Gas (FLNG) project in Nigeria, with the proposed development estimated to require more than $3bn in investment.

This statement was made at a press conference on Thursday by the Managing Director of NIPCO Group, Nagendra Verma, who said the proposed project would have an envisaged LNG production capacity of approximately three million tonnes per annum, subject to the outcome of feasibility studies, regulatory approvals and a final investment decision.

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Verma said the project, which would mark NIPCO’s entry into the Liquefied Natural Gas (LNG) sector, was being considered for locations in the Escravos area of Delta State and the Akwa Ibom region.

“This proposed development is envisaged to comprise an FLNG facility along with associated marine and export infrastructure with the potential to serve both the international LNG market and growing domestic LNG demand in Nigeria. The proposed project is presently envisaged to produce LNG unified LNG of approximately 3 million L per annum, 3 million metric tons per annum. The proposed development is expected to represent a significant investment currently estimated in excess of $3bn.

“The final location shall be determined subsequent to the ongoing feasibility study. We are looking at strategic locations that will facilitate access to upstream gas resources, LNG processing, marine transportation and both international and domestic markets,” he said.

According to him, NIPCO had been evaluating the proposed FLNG project for the past six to nine months and was currently undertaking preliminary technical, commercial and feasibility assessments.

“We are considering various development concepts, technology solutions, financing structures and commercial options with a view to establishing a technically robust and commercially sustainable project,” Verma said.

He said the proposed development would comprise an FLNG facility alongside associated marine and export infrastructure, with the potential to serve international LNG markets as well as Nigeria’s growing domestic gas demand.

“The project is presently envisaged to have an LNG production capacity of approximately three million tonnes per annum.

“However, this remains subject to the outcome of the ongoing feasibility and technical studies, project economics, regulatory approvals and final investment decisions,” he said.

Verma said NIPCO was also evaluating the shipping and logistics infrastructure required to support both export and domestic LNG supply.

The Managing Director said the ongoing assessment covers upstream gas supply and reserves, FLNG technology and configuration, LNG production capacity, marine and export infrastructure, domestic LNG supply opportunities, shipping and logistics requirements, project economics and financing structure.

FCT Generates More IGR Than Six North Central States Combined in Three Years
The Federal Capital Territory (FCT) generated more Internally Generated Revenue (IGR) than the six states in the North Central geopolitical zone combined between 2023 and 2025, according to figures from the National Bureau of Statistics (NBS).

The FCT recorded a total IGR of ₦849.80 billion during the three-year period, while Kwara, Niger, Kogi, Plateau, Nasarawa and Benue collectively generated ₦704.42 billion.

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The FCT recorded steady growth in its internally generated revenue throughout the period, rising from ₦211.10 billion in 2023 to ₦282.36 billion in 2024, before reaching ₦356.34 billion in 2025.

For the six North Central states, combined IGR stood at ₦176.55 billion in 2023, increased to ₦214.96 billion in 2024 and rose further to ₦312.91 billion in 2025.

Kwara State recorded the highest cumulative IGR among the six states, generating ₦226.20 billion over the three years.

It was followed by Niger with ₦122.71 billion, Kogi with ₦102.73 billion, Plateau with ₦102.08 billion, Nasarawa with ₦81.58 billion, and Benue with ₦69.12 billion.

The FCT’s three-year IGR was therefore about ₦145.38 billion higher than the combined revenue of the six North Central states.

The figures also show that the combined IGR of the six states increased substantially in 2025, when their total reached ₦312.91 billion, compared with ₦214.96 billion in 2024.

See full list below:

North Central States — Three-Year IGR (2023–2025)
Kwara — ₦226.20 billion
Niger — ₦122.71 billion
Kogi — ₦102.73 billion
Plateau — ₦102.08 billion
Nasarawa — ₦81.58 billion
Benue — ₦69.12 billion

North Central Total — ₦704.42 billion
By Year:
2023 — ₦176.55 billion
2024 — ₦214.96 billion
2025 — ₦312.91 billion

FCT:
2023 — ₦211.10 billion
2024 — ₦282.36 billion
2025 — ₦356.34 billion
Three-year total — ₦849.80 billion

President and Chief Executive of Dangote Industries Limited (DIL), Aliko Dangote, has announced plans for the Aliko Dangote Foundation (ADF) to collaborate with state governments to empower vulnerable women across Nigeria through participation in the Dangote Petroleum Refinery and Petrochemicals Limited (DPRP) Initial Public Offering (IPO).

Dangote made the announcement in New York during the 81st United Nations General Assembly (UNGA) while responding to a question from the Secretary to the Yobe State Government, Dr. Goje Mohammed.

The discussion focused on how partnerships between government and the private sector can help conflict-affected communities, particularly widows, build sustainable financial futures through investment opportunities.

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According to Dangote, the Foundation will work closely with state governments to ensure that women from vulnerable groups, including widows and victims of conflict, can take advantage of the refinery’s share offering and begin building long-term wealth through equity ownership.

The initiative is designed to expand access to Nigeria’s capital market by giving women who might otherwise be excluded the opportunity to become shareholders in one of Africa’s largest industrial enterprises.

Speaking on the programme, Dangote revealed that the Foundation plans to provide additional support to participating women by donating shares to complement their investments.

“We are partnering with state governments to ensure that widows and other vulnerable women are able to buy shares in the refinery,” he said.
He explained that women who purchase shares under the IPO will receive an additional allotment of shares from the Foundation, helping them establish a long-term financial asset.

“Beyond enabling them to buy shares, the Foundation will also support them by donating additional shares that they can hold as savings for the future,” Dangote noted.

The programme targets up to two million women nationwide, making it one of the largest financial inclusion and women’s empowerment initiatives linked to Nigeria’s capital market.

“We are looking at reaching about two million women through this initiative,” he added.

The proposed intervention forms part of the broader objectives of the Dangote Refinery “People’s IPO,” which seeks to democratise ownership of the landmark refinery and enable more Nigerians to share in the value created by one of the country’s most significant private-sector investments.

The initiative is expected to have particular significance for conflict-affected states such as Yobe, where many widows and vulnerable households continue to face economic challenges resulting from years of insecurity. By facilitating access to investment opportunities, the partnership aims to provide a pathway to sustainable wealth creation and long-term financial security.

Dangote emphasized that collaboration between the Foundation and state governments will create a structured framework for supporting vulnerable women to participate in the IPO, reinforcing the role of investment and equity ownership as tools for economic empowerment, financial inclusion and social development.

Through this initiative, the ownership opportunity presented by the Dangote Refinery IPO will be extended to some of Nigeria’s most vulnerable women, helping them build assets, secure their futures and participate directly in the growth of a landmark national enterprise.