Yemisi Izuora
Nigeria LNG Limited’s (NLNG) has refuted allegations of not complying to laws as prescribed by constituted authorities in the country.
The company insists that it is a responsible entity that abides by regulations as stipulated by Nigerian government.
NLNG said it is worried by news reports referring to an alleged statement by Nigerian Extractive Industries Transparency Initiative (NEITI) that it has not remitted about $11.6billion (N2.32trillion) to the Federation Account.
‘For the purpose of clarity, NLNG wishes to state that the company is owned by four shareholders, namely, the Federal Government of Nigeria, represented in the shareholders’ structure by the Nigerian National Petroleum Corporation, NNPC (49%), Shell Gas BV, SGBV, (25.6%), Total LNG Nigeria Limited (15%), and Eni International (N.A,) N. V. S. a. r. l (10.4%).
NLNG remains responsible to its shareholders and pays dividends to them according to the shareholding structure.
NLNG also wishes to emphasize that it continues to conduct all its businesses in full compliance with the laws of the Federal Republic of Nigeria and existing tax regulations, championing compliance and meeting all its applicable tax obligations to federal, state and local governments. A case in point is NLNG’spayment of $1.6 billion to the Federal Government recently as Company Income Tax and Education Tax for 2014 financial year.
In line with our vision to help build a better Nigeria, NLNGsupports the principles and objectives of NEITI, including the promotion of transparency in payments by extractive industry companies to governments and government-linked entities.
Nigeria LNG remains the most significant arrow-head of the federal government’s continuing efforts to eliminate gas flaring and derive value from the country’s 187 trillion cubic feet of proven gas reserves’. Kudo Eresia-Eke General Manager, External Relations, NLNG said in a statement issued today.