Oil & Gas
THE House of Representatives on Wednesday in Abuja urged the Federal Government to grant tax rebate to the Nigerian Liquefied Natural Gas (NLNG).
This followed a motion moved by Rep. Randolph Brown (Rivers-PDP) at the plenary.
Moving the motion, Brown said, “This is to enable NLNG to take over the portion of the Bodo-Bonny Road project in Rivers and ensure an uninterrupted project delivery.’’
The motion was unanimously adopted by members when it was put to a voice vote by the Speaker, Mr Yakubu Dogara.
The House, therefore, mandated its Committees on Works and Finance to monitor and ensure compliance.
Brown said that the tax rebate, if granted, would prompt and encourage the NLNG to take over the portion of the Bonny- Bodo Road project.
According to him, the tax rebate will equally facilitate and ensure a quick completion and delivery of the project.
He said Nigeria derived immense benefits from the oil and gas industry that was being exploited by companies, including NLNG.
The NLNG is situated on the Bonny Island in Bonny Local Government Area of Rivers.
“Bonny Island has no road linking it to the outside world despite the location of a company of such importance to the Nigerian economy and the obvious devastating effects of oil and gas exploration.
“Indigenes of Bonny Island are linked to the outside world only through the internet, by sea or by air.
“The flights, in this case, are only for a selected few elites or high ranking officers of the oil and gas industries on the Bonny Island.
“The Federal Government recently flagged off the construction of the Bonny-Bodo Road which will link Bonny to the outside world by road.
“The long overdue project should not be allowed to suffer the same faith as it had been subjected to in the past,’’ Brown said.
According to him, NLNG has undertaken to bankroll 50 per cent of the project.
“There is a need to appeal to the Federal Government to grant a tax incentive to the company to enable it to take over the entire Bonny-Bodo Road project,” he said.
Brown expressed appreciation over the Federal Government’s plan to review the five-year limit on tax to a 10-year period to sustain private investment in road infrastructure, being a long term asset. (NAN)
– Feb. 21, 2018 @ 18:19 GMT |
Tags: Reps urge FG to grant tax rebate to NLNG
