By Teddy Nwanunobi
The Nigeria Liquefied Natural Gas (NLNG) Company has received N20 billion tax waiver from the Federal Inland Revenue Service (FIRS) for the construction of Bodo Bonny Bridge in Rivers State.
Valuechain reports that this is the third credit certificate the NLNG has received from the tax agency, while the fourth is expected later in the year.
According to a statement that was issued by FIRS, the tax agency presented a road infrastructure credit certificate to NLNG.
In the last three years, the NLNG has received credit certificates valued at N46 billion.
The Bodo Bonny Bridge and roads across Okpobo channels in Rivers State were constructed by Julius Berger at a cost of N120.681 billion.
“For this, the government has granted the company a tax waiver of N20 billion,” FIRS said.
FIRS Chairman, Muhammad Nami, who was 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 praised NLNG for paying its 2020 tax obligations valued at N130 billion three months ahead of time.
Receiving the tax credit certificate on behalf of NLNG, Mr. Bayo Denrele said NLNG provided 50 per cent part funding for the 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.
“The speed with which the FIRS handled the issuance of this certificate is a testament to the efficiency of the FIRS,” Denrele said.