…Gas company so far received N46bn FIRS credit certificates
Ben Eguzozie, in Port Harcourt
Nigerian gas company Ltd, the Nigeria Liquefied Natural Gas (NLNG) receives tax waiver from the federal government for construction of the Bodo-Bonny bridge in Rivers State at the cost of N20 billion. The tax waiver comes from a credit certificate given to the gas company by the revenue agency, the Federal Inland Revenue Service (FIRS).
NLNG had provided 50 per cent 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.
NLNG till date, has received three credit certificates in three years valued at N46 billion. It will get the fourth later in the year.
The Bodo-Bonny bridge and roads across the Opobo channels in Rivers State are part of the 37.9 km Bodo-Bonny road, with 14 bridges, which is the first landing into Opobo and Bonny islands from Port Harcourt. The entire road stretch is being constructed by Julius Berger at a cost of N120.681 billion. The federal government has promised the road will be ready in 2022.
For centuries till date, the two major trading islands are only accessed by water.
In 2020, President Muhammadu Buhari signed the executive order seven authorizing companies that provide critical infrastructure like roads to be granted tax waivers.
Muhammad Nami, the executive chairman of FIRS urged other corporate bodies across the country to join NLNG and Dangote Nigeria Limited to take advantage of government’s tax credit facility.
He lauded the NLNG for paying its 2020 tax obligations valued at N130 billion three months ahead of time.
Frontpage September 29, 2020