Wednesday, 8 April 2015

NLNG Raises Asset Base ByU.S. $14 Billion


Nigeria LNG Limited (NLNG) has so far invested additional $14 billion on assets, made up mainly of plants and equipment, financed largely by the company's shareholders, with 51 per cent stake by International Oil Companies (IOCs) and 49 per cent belonging to the country through the Nigerian National Petroleum Corporation (NNPC).

The company, which made this disclosure in its facts and figures on NLNG 2015,  stated that it has contributed to national wealth and economic wellbeing by paying all applicable taxes and tariffs.

Specifically, the company said that its corporate income tax amounted to about N220 billion in 2014, thus making it the highest tax payer in Nigeria and Sub-Saharan Africa.

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