LNG

Nigeria’s parliament blocks NLNG equity sale

Nigeria’s national assembly has blocked the sale of Nigerian National Petroleum Corp.’s 49% stake in Nigeria LNG.
By Staff reporter 14 May 2018 0 30840

Nigeria’s national assembly has blocked the sale of Nigerian National Petroleum Corp.’s 49% stake in Nigeria LNG, with representatives arguing that the company’s good performance and national strategic importance should preclude it from privatisation.

Nigerian newspaper The Guardian reports that the lawmakers’ decision was followed by calls for President Muhammadu Buhari to withdraw the proposed sale entirely.

The deal was reported to have had the potential to bring in $10-15 billion and had been mooted as a means of raising funds...