FG grants NLNG N20bn tax waiver
President Muhammadu Buhari signed Executive Order Seven (07) in 2020 authorizing companies that provide critical infrastructure like roads to be granted tax waivers.
The federal government has granted the Nigeria Liquefied Natural Gas (NLNG) company N20 billion tax waiver.
The waiver is because NLNG constructed the Bodo Bonny Bridge in Rivers State, said the Federal Inland Revenue Service (FIRS) when it presented the road infrastructure credit certificate to NLNG in Abuja on Thursday.
NLNG has so far received three credit certificates in the last three years valued at N46bn. Thursday’s is the third while the fourth is expected later in the year.
President Muhammadu Buhari signed Executive Order Seven (07) in 2020 authorizing companies that provide critical infrastructure like roads to be granted tax waivers.
The Bodo Bonny Bridge and roads across Okpobo channels in Rivers State were constructed by Julius Berger at a cost of N120.681bn.
For this, the government has granted the company a tax waiver of N20bn.
Executive Chairman of FIRS, Muhammad Nami, represented by Coordinating Director, Tax Operations Group, Mr Femi Oluwaniyi, urged other corporate bodies to join NLNG and Dangote Nigeria Limited to take advantage of government’s tax credit facility.