President Bola Tinubu has backed the implementation of a $5bn Floating Liquefied Natural Gas (LNG) project in the country.

Addressing newsmen yesterday after a meeting with the President, leader of the delegation of joint venture partners, Julius Rone, said the project has the capacity to generate 7,000 direct jobs and produce 300,000 tons of LPG every year.

The President gave the backing when he received a group of joint venture partners made up of UTM FLNG, TECHNIP Energies and JGC Corporation in his office, alongside Ambassadors of France and Japan to Nigeria.

The first floating LNG project in Nigeria, according to Mr. Julius Rone, is expected to come on stream by the first quarter of 2026.