The Federal Government has granted Nigeria Liquefied Natural Gas (NLNG) company N20 billion tax waiver for the construction of Bodo Bonny Bridge in Rivers State.
The Federal Inland Revenue Service (FIRS) presented the road infrastructure credit certificate to NLNG in Abuja on Thursday.
President Muhammadu Buhari had signed Executive Order Seven (07) in 2020 authorizing companies that provide critical infrastructure like roads to be granted tax waivers.
NLNG has so far received three credit certificates in the last three years valued at N46 billion. The fourth is expected later in the year.
The constructed of the Bodo Bonny Bridge and roads across Okpobo channels in Rivers State was handled by Julius Berger at a cost of N120.681 billion.
At the presentation of the road infrastructure credit certificate to NLNG, Executive Chairman of the FIRS, Muhammad Nami, represented by Coordinating Director, Tax Operations Group, Femi Oluwaniyi, urged other corporate bodies across the country to join NLNG and Dangote Nigeria Limited to take advantage of government’s tax credit facility.
Oluwaniyi praised NLNG for paying its 2020 tax obligations valued at N130 billion three months ahead of time.
Read Also: NLNG boss decries Nigeria’s gas-rich but energy-poor status
Receiving the tax credit certificate on behalf of NLNG, Bayo Denrele said NLNG provided 50 percent part funding for Bodo Bonny Bridge project with the Federal Ministry of Works taking up the other half. Julius Berger handled the construction of the bridge.
Denrele commended the FIRS for speedily processing the latest tax credit certificate. He noted that the company got the last certificate in November 2020.
According to Bayo Denrele, “The speed with which the FIRS handled the issuance of this certificate is a testament to the efficiency of the FIRS.”
Dangote Nigeria Limited is another company that has enjoyed tax waiver for providing infrastructure.
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