‘NLNG Act amendment is taxation through back door’

‘NLNG Act amendment is taxation through back door’

The Nigeria LNG Limited (NLNG), has warned that any amendments to the NLNG Act would lead to double taxation considering that gas suppliers to NLNG already pay the Niger Delta Development Commission (NDDC) 3 per cent levy.

General Manager, Production, NLNG, Mr. Tayo Oginni, stated this while briefing international media correspondents and the Managing Director of the News Agency of Nigeria (NAN), Mr. Bayo Onanuga, during a plant facility visit to NLNG in Bonny, Rivers State.

He argued that the development was inimical to the progress of the oil and gas industry, especially when the country should be developing its vast gas resources and attracting Foreign Direct Investments (FDIs) into the country. 

Oginni said that after nearly 30 years of false and half attempts to start the LNG project in Nigeria, it was the enactment of the NLNG Act that made it possible for NLNG to be established and subsequently for Final Investment Decisions (FIDs) to be taken for all six trains.

“And this earned the country the reputation of the fast growing LNG project in the world. He added that the milestone would be watered down by attempts to change the rules of the game built into the Act,’’ he said. Read more

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