Home [ MAIN ] COVER NLNG Remitted N436billion in Taxes to FG in 2015

NLNG Remitted N436billion in Taxes to FG in 2015

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The Nigeria Liquefied Natural Gas Limited, NLNG, said it paid the sum of N436billion to the federal government as income tax in 2015.

The managing director of the company, Babs Omotowa, who made this in Lagos, on Tuesday, April 12 at the presentation of ‘Facts and Figures on NLNG 2016’, said the development represented his company’s contribution to nation wealth and economic well-being of Nigeria.

Omotowa said since 2008, his company has contributed about four percent of Nigeria’s annual gross domestic product, adding that this has been reduced to one percent due to the rebasing of the GDP.

“With its plant construction, the company generated considerable foreign direct investment for the country. The project today has assets worth S15billion financed mainly by NLNG shareholders, with 51 percent stake by international oil companies and 49percent belonging to the country, through the Nigerian National Petroleum Corporation(NNPC).”

He revealed that his company has converted about 146billion standard cubic metres of associated gas to exports as liquefied natural gas and natural gas liquids to reduce gas flaring by upstream companies.

 

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