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Monday 23 April 2018
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NLNG fights for its life, wants amendment bill scuttled

Why the NLNG is fighting

NLNG

By John Eche

 

The Nigeria Liquified Natural Gas Company, NLNG has  risen up in stout opposition to moves by the National Assembly to amend the existing legislation setting up the organisation and governing its operations.

Among other factors, the company is saying that the current reform is a threat to the continued viability of ‘Nigeria’s Number One Company’ even as it would equally lead to job losses, the disruption of the firm’s intervention projects in the Niger-Delta and job losses. others are the potential reversal of gains already secured in the critical area of gas flaring even as the move overall poses a significant risk to the continued existence of the firm.

Arguing its case, the General Manager, External Relations Division of NLNG Limited, Dr. Kudo Eresia-Eke, stated at a press conference in Lagos yesterday that, “The House of Representatives on May 9, 2017, passed a bill seeking to amend the Nigeria LNG Limited (NLNG) Act (Fiscal, Guarantees, Assurances, and Incentives) subjecting the company to 3per cent Niger Delta Development Commission (NDDC) levy. We understand that this bill will be progressed to the Senate. We think that this is a huge error to pass law as it is a direct collusion with the Federal Government’s drive to attract Foreign Direct Investment (FDI).”

Eresia-Eke disclosed that NLNG is proudly the country’s biggest and most successful indigenous company, run by 100 per cent Nigerian Management and over 95per cent Nigerian staff, yet competing effectively globally. He pointed out that it is the nation’s highest tax payer and the 4th largest supplier of LNG in the whole world.

 

 

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