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From Uche Usim, Abuja
For funding the construction of the Bonny-Bodo road and bridge in Rivers State, the Federal Inland Revenue Service (FIRS) has issued a Tax Credit Certificate (TCC) to the Nigeria Liquefied Natural Gas Limited (NLNG).
NLNG is one of the companies undertaking the construction of roads under the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, an initiative of the Federal Government aimed at closing the poor infrastructure gap.
The certificate was received by the Company’s Deputy Managing Director, Mr Olalekan Ogunleye, who represented the CEO NLNG, Mr. Philip Mshelbila, at the handover ceremony in Abuja recently.
At the event, the Executive Chairman, FIRS, Muhammad Nami, commended the NLNG for its increased investments in Nigeria.
“The Service has faith in your Company and the increased investments it is making in our country. We look forward, with optimism, to the completion of your Train Seven (7) Project for it to join the country’s tax revenue streams,”Nami noted.
He also used the ceremony to highlight how the Service was improving on its relations with stakeholders, as well as building a customer-centric tax authority for improved revenue generation.
“In order to efficiently deliver on our mandate, the Board and Management of the Service is focused on the following strategic planks and action areas: we are energising our consultations and regular engagements with stakeholders; we are building a customer centric and data centric organisation while also restructuring the administrative framework and processes of the Service; we are driving towards full automation of core tax operations.
“Consequent upon these strategic moves, the Service recorded an unprecedented collection of over N6 trillion in 2021 and has set its sight on higher performance this year. There is no doubt that the Service can achieve its targets with taxpayers like the NLNG.
The CEO Nigeria LNG in his remarks noted that the company was a major contributor to the country’s economic development and is working towards building a better Nigeria; he also commended the FIRS for being at the forefront of economic resuscitation and progress the country is experiencing.
“I also want to put on record our appreciation for the expedited issuance of the tax credit certificate. As you know, this tax credit is in relation to the Bonny-Bodo road which is itself a landmark project and a pilot scheme in this initiative. This would be the first time the Island of Bonny will be linked by road to the rest of the country. And this is very significant to the development and advancement of the country because it will open new opportunities for economic activity,” Mr. Mshelbila noted.
