The Nigerian Liquefied Natural Gas (NLNG) Limited says it generated a total revenue of $20 billion for the country through Nigerian National Petroleum Corporation (NNPC) which holds 49 percent of its total share.
The new NLNG Managing Director, Tonny Attah who disclosed this during an interactive session with the Minister of Information and Culture, Lai Mohammed in Abuja, added that the company has paid over $6 billion in taxes during the period.
“We contributed more than $20 billion, with over $6 billion as tax in the last five years through NNPC which owns 49% of NLNG,” Attah stated as he sought government intervention on the attempt of the legislators to repeal the NLNG Act.
He noted that the NLNG has decided to grow the LPG on behalf of the country to reduce the request of kerosene while creating an open market.
He hence sought the governments intervention through the Minister of Information and Culture on the attempt of the legislators to repeal the NLNG Act, adding that it is detrimental to the reputation of the country in the global market.
“We would be bringing more than 20 billion investment to Nigeria, with 18,000 job creation capacity, the repeal of the NLNG Act will these prospective potential will not be made available in Nigeria, the act may equally shut the doors of or reduce investments that would come in to Nigeria, thereby creating a negative image of Nigeria in the global market,” he said
Responding, the Minister of Information and Culture, Lai Mohammed noted that the NLNG is an organization which is unique because of what it contributes to the economy, and also the best example of public private partnership that other private organizations should emulate when going into partnership with the government.
“NLNG is a good example for PPP with the government as they had been able to keep to their terms of agreement with the government while also providing corporate social responsibility programmes within and outside their host communities.”
The Minister also applauded the company’s investment in human capital in collaboration with six universities across the six geographical zones in the area of knowledge and technology transfer.
He commended the Nigeria Liquefied Natural Gas (NLNG) Limited for promoting creativity through the NLNG Literature Prize and urged the organization to extend similar gesture to the Federal Government’s National Re-orientation Campaign, tagged ‘Change Begins with Me”, to
be launched on Thursday.
While reacting to the ongoing amendment of the NLNG Act, the Minister observed that Nigeria’s future depends on gas than crude oil, hence the need for investor friendly policy.
He said: “It is very sad to note that any attempt is being made to kill the NLNG. One thing investors want and like is predictability. Changing the goal post will not allow any investor. Whatever is done is not going to affect NLNG alone because investors are interconnected.”
While pledging the readiness of the Executive arm to interface with National Assembly in the bid to avert capital flight, Mohammed urged the NLNG to engage the National Assembly and Federal Executive Council to enlighten them on the reason why the NLNG Act should not be repealed.
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