NLNG Bags FG’s N20bn Tax Waiver For Bodo Bonny Bridge

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BY COBHAM NSA – For constructing Bodo Bonny Bridge in Rivers State, Nigeria Liquefied Natural Gas (NLNG) company has been granted ₦20 billion tax waiver by the Federal Government

The Bodo Bonny Bridge and roads across Okpobo channels in Rivers State were constructed by Julius Berger at a cost of ₦120.681 billion.

So far, NLNG has received three credit certificates in the last three years valued at ₦46billion and Thursday’s presentation is the third with the fourth one expected later in the year.

President Muhammadu Buhari had in 2020 signed Executive Order Seven (07) authorizing companies that provide critical infrastructure like roads to be granted tax waivers.

Presenting the road infrastructure credit certificate to LNG in Abuja on Thursday, the Executive Chairman of Federal Inland Revenue Service (FIRS), Muhammad Nami, challenged other corporate bodies in the country to emulate NLNG and Dangote Nigeria Limited in taking advantage of government’s tax credit facility.

Nami, who was represented by Coordinating Director, Tax Operations Group, Mr Femi Oluwaniyi also praised NLNG for paying its 2020 tax obligations valued at ₦130 billion three months ahead of time.

In his remarks while receiving the tax credit certificate on behalf of NLNG, Mr Bayo Denrele said the company provided 50 per cent part funding for Bodo Bonny Bridge project with the Federal Ministry of Works taking up the other half while construction giants, Julius Berger handled the project.

Denrele, who is the Manager, Front End. Development (FED) & Technical Interface at Nigeria LNG (NLNG) Ltd, lauded the FIRS for speedily processing the latest tax credit certificate, noting that the company got the last certificate in November 2020.

According to him; “The speed with which the FIRS handled the issuance of this certificate is a testament to the efficiency of the FIRS”.

Currently, Dangote Nigeria Limited is the other big player company that enjoys government’s tax waiver for providing infrastructure in the country.

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