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The Managing Director, Nigeria LNG Limited, Mr. Tony Attah, has
said the company’s assets are now worth over $13bn. According to a statement by
the company on Tuesday, quoted Attah as saying this during a technical session
chaired by the Group Managing Director, Nigerian National Petroleum
Corporation, Dr. Maikanti Baru, at the 22nd Nigerian Economic Summit in Abuja.
According to him, the NLNG Act provides incentives, assurances and
guarantees, which significantly encourage investment in the project.
Attah said, “These incentives made it attractive for the international
investors and financiers to invest even during a period Nigeria was perceived
to be a pariah state. Those investments grew and they resulted in an
inspirational Nigerian success story that the company is today, with assets now
worth over $13bn.”
Commenting on attempts by certain stakeholders to undermine the
NLNG Act, he said the courts had been firm on the provisions of the Act in
instances where court cases were instituted by third parties to compel the
company to pay levies.
“These attempts are apparently continuing outside the courts, but
we are hopeful that the country’s leadership will protect its commitment
through the Act as well as avoid the portrayal of the country as one that does
not honour agreements,” he said.
He said the NLNG had been able to generate $85bn in revenue, pay
$5.5bn in taxes as well as commit more than $200m to corporate social
responsibility projects, especially in capacity building and infrastructure
development.
Credit: ShipsandPorts
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