The Nigerian Liquefied Natural Gas Limited is a gas producing company owned by a few oil majors in conjunction with the federal government.

It is cash cow for the government.

Now, it was rumoured in some quarters that the federal government planned to sell its shares in the gas company and use the money to boost the economy.

Also Read: Nigeria May Be Heading Back To Recession And Here Are 3 Reasons

But the Minister of State, Petroleum Resources, Dr Ibe Kachikwu, on Tuesday denied that the federal government has any such plans.

He made a submission to the House of Representatives Committee on Gas Resources and Allied Matters at the National Assembly in Abuja.

The minister, who was represented by the Director, Gas Resources, Mrs Esther Ifejika, claimed that the ministry was not aware that there was any plan to sell the lucrative plant.

“The ministry is not aware of any plan by the Federal Government to sell the NLNG,” he stated.

Nigeria controls 45% share capital in the NLNG, the same holding the government is alleged to be planning to divest.

Recall that last May, the House, through a resolution, ordered an investigation into the allegation, following a motion indicating that the aim of the sale was to generate money to inject into the country’s economy.

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