From Uche Usim, Abuja
To finance the construction of the Bonny-Bodo Road and Bridge in Rivers State, the Federal Inland Revenue Service (FIRS) issued a Tax Credit Certificate (TCC) to Nigeria Liquefied Natural Gas Limited (NLNG).
NLNG is one of the companies undertaking road construction under the Highway Infrastructure Development and Rehabilitation Investment Tax Credit program, a federal government initiative to address the infrastructure gap mediocre.
The certificate was received by
the company’s Deputy Managing Director, Mr. Olalekan Ogunleye, who recently represented NLNG’s CEO, Mr. Philip Mshelbila at the handover ceremony in Abuja.
At the event, FIRS Executive Chairman Muhammad Nami commended the NLNG for its increased investments in Nigeria.
“The Service has confidence in your company and in the increased investment it is making in our country. We look forward with optimism to the completion of your Train Seven (7) project to join the country’s tax revenue streams,” Nami noted.
He also used the ceremony to highlight how the Service was improving its relations with stakeholders, as well as the creation of a customer-centric tax authority for better revenue generation.
“To effectively fulfill our mandate, the Service’s Board and management are focused on the following strategic plans and action areas: we are boosting our regular consultations and engagement with stakeholders; we are building a customer- and data-centric organization while restructuring the Service’s administrative framework and processes; we are moving towards complete automation of basic tax operations.
“As a result of these strategic moves, the Service recorded an unprecedented collection of over 6 trillion naira in 2021 and aims to improve its performance this year. There is no doubt that the Service can achieve its goals with taxpayers like the NLNG.
The CEO of Nigeria LNG, in his remarks, noted that the company was a major contributor to the economic development of the country and is working towards building a better Nigeria; he also commended the FIRS for being at the forefront of the country’s economic recovery and progress.
“I would also like to record our appreciation for the expedited issuance of the tax credit certificate. As you know, this tax credit is for the Bonny-Bodo road which itself is a flagship and pilot project in this initiative.
“It would be the first time that Bonny Island will be connected by road to the rest of the country. And this is very important for the development and advancement of the country as it will open up new opportunities for economic activity,” Mr. Mshelbila noted.