Connect with us

Business

Nigerian govt grants NLNG N20bn tax waiver for constructing bridge

Published

on

The Federal Government has granted the Nigeria Liquefied Natural Gas (NLNG) company a N20 billion tax waiver for constructing the Bodo Bonny Bridge in Rivers State.

This was disclosed by the Federal Inland Revenue Service (FIRS) when it presented the road infrastructure credit certificate to NLNG in Abuja on Thursday.

This makes it the third credit certificate the NLNG is receiving in the last three years, valued at N46 billion, while the fourth is expected later in the year.

Read also: NLNG generated $114bn for Nigeria – Buhari

President Muhammadu Buhari signed the Executive Order Seven (07) in 2020, granting companies that provide critical infrastructure like roads tax waivers.

The Bodo Bonny Bridge and roads across Okpobo channels in Rivers State were constructed by Julius Berger at a cost of N120.681 billion, while the government granted the company a tax waiver to the tone of N20 billion.

Executive Chairman of the Federal Inland Revenue (FIRS), Muhammad Nami, represented by the Coordinating Director, Tax Operations Group, Femi Oluwaniyi, urged other corporate bodies to join NLNG and Dangote Nigeria Limited to take advantage of government’s tax credit facility.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations