The Federal government has given Nigeria Liquefied Natural Gas (NLNG) company ₦20 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 LNG in Abuja
NLNG has so far received three credit certificates in the last three years valued at ₦46 billion. Thursday’s is the third while the fourth is expected later in the year.
President Muhammadu Buhari signed Executive Order Seven (07) in 2020 authorizing companies that provide critical infrastructure like roads to be granted tax waivers.
The Bodo Bonny Bridge and roads across Okpobo channels in Rivers State were constructed by Julius Berger at a cost of ₦120.681 billion.
Executive Chairman of the FIRS, Muhammad Nami, represented by Coordinating Director, Tax Operations Group, Mr. 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 commended NLNG for paying its 2020 tax obligations valued at ₦130 billion three months ahead of time.
Receiving the tax credit certificate on behalf of NLNG, Mr. 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.
He commended the FIRS for speedily processing the latest tax credit certificate. He noted that the company got the last certificate in November 2020.
He said: “The speed with which the FIRS handled the issuance of this certificate is a testament to the efficiency of the FIRS”.
