Business

Tinubu Urges Host Communities’ Engagement as NLNG Lists Vandalism, Multiple Taxation as Challenges

President Bola Tinubu has urged oil and gas companies operating in the Niger Delta to take host communities’ engagement seriously to reduce tensions and build confidence in the Niger Delta.


A statement from the Nigeria LNG on Thursday, stated that the president spoke when a team from the company led by the Chairman of the Board, King Edmund Daukoru, visited him in his office in Abuja.


While thanking the NLNG for the visit and commitment to ‘excellence’ and contributions to the Gross Domestic Product (GDP), Tinubu noted that the company plays a critical role in Nigeria’s economy.


Tinubu affirmed the importance of gas not just as a transition fuel but also as the fuel for the future, assuring that the gas sector would get priority attention in his administration.


He assured the board that all encumbrances to the progress and development of Nigeria’s industrialisation as well as any further impediments to the business practice in the oil and gas sector would be swiftly removed.


The president emphasised that for the oil and gas industry to continue to thrive, all stakeholders in the value chain, especially the host communities needed to be engaged and carried along to enable the government to build confidence and trust.


 He urged the board and management of NLNG to continue to work in collaboration with the government to ensure that issues can be resolved quickly and efficiently.


He further reiterated his administration’s commitment to ensuring that businesses thrive in order to generate economic prosperity and sustainable development.


Speaking on the occasion, Daukoru, who led the team, expressed profound gratitude to Tinubu for his ‘unwavering support’ in bolstering Nigeria’s position in the global energy landscape.


He acknowledged the crucial role NLNG has played in Nigeria’s economy, noting the need for government support in resolving some challenges the company is presently facing.


Also speaking during the visit, the Managing Director of Nigeria LNG Limited, Dr. Philip Mshelbila, stated that since inception, NLNG had contributed enormous revenue to the government through dividend and taxes, noting that the FIRS declared the company as the largest tax paying company in 2022.


Mshelbila also emphasised that NLNG’s Domestic LPG (DLPG) Scheme has guaranteed LPG supply, availability, and affordability, and has also stimulated the development of different parts of the DLPG value chain in Nigeria.


According to him, 100 per cent of produced LPG volumes from NLNG is currently dedicated to the domestic market, supplying about 40 per cent of Nigeria’s domestic LPG demand.


He stressed that challenges around pipeline vandalism had constrained NLNG’s production with consequent loss of revenue to the government.


Besides, he noted that multiple taxation from various government agencies and the Finance Act, which he said was being amended yearly, distorts corporate planning and puts business on the back foot as well as stifle investor confidence and investment opportunities in the sector.

Emmanuel Addeh

Follow us on:

AriseNews

View Comments

  • !!!!GREETINGS!!!it's legal approve by the federal government of Nigerian opportunity to get a car at minimum price
    Mama Africa #17,000 •Tomatoes Rice # *15,000* •Cap Rice #15,000 •My Food #17,000 •Mama Gold #17,500 •Ade Brazil #15,000 •Elephant Gold #15,000 •Royal Umbrella #15,000 Etc.
    priceE.G
    GOLF3= 400,000,, (DEPENDS ON THE MODEL).
    GOLF4= N550,000,,(DEPENDS ON THE MODEL).
    TOYOTA BIG DADDY= N700,000,,(DEPENDS ON THE MODEL).
    TOYOTA MATRIX= N700,000,,(DEPENDS ON THE MODEL).
    TOYOTA SPIDER= N950k,,(DEPENDS ON THE MODEL).
    TOYOTA MUSCLE #850,000 (DEPEND ON THE MODEL).
    TOYOTA HIACE BUS= N900k,,(DEPENDS ON THE MODEL).
    TOYOTA HILUX= N1m,,(DEPENDS ON THE MODEL).
    HONDA EVIL SPIRIT= N600.000,,(DEPENDS ON THE MODEL).
    DINNER TRUCK= N900k,,(DEPENDS ON THE MODEL).
    HONDA ACCORD= N650.000,,(DEPENDS ON THE MODEL).
    TOYOTA AVALON= N800.000,,(DEPENDS ON THE MODEL).
    TOYOTA COROLLA= N700,000,,(DEPENDS ON THE MODEL).
    COASTA BUS= N3.5M,(DEPENDS ON THE MODEL).
    TOYOTA VENZA N1,600,000 (DEPEND ON THE MODEL)
    LEXUS IS250 1, 000,000.00(DEPEND ON THE MODEL)
    LEXUS IS350 1.300,000.00(DEPEND ON THE MODEL)
    LEXUS RX350= N2.,,(DEPENDS ON THE MODEL).
    LEXUS RX330= N1m,,(DEPENDS ON THE MODEL).
    LEXUS GL470 N2.5m,,(DEPENDS ON THE MODEL).
    LEXUS ES330 #950,000 (DEPEND ON THE MODEL)
    LEXUS ES350 1,300,000. (DEPEND ON THE MODEL)
    RANGE ROVER SPORT 2M(DEPEND ON THE MODEL).
    RANGE ROVER EVOGUE 3.0M (DEPEND ON THE MODEL).
    MERCEDES BENZ GLK 2.8M(DEPEND ON THE MODEL).
    MERCEDES BENZ ML350 #1.9M (DEPEND ON THE MODEL).
    MERCEDES BENZ CLS 2M(DEPEND ON THE MODEL).
    ACURA ZDX 1,300,000. (DEPEND ON THE MODEL)
    ACURA MDX 1.2M(DEPEND ON THE MODEL).
    TIPER= N3.5M,,(DEPENDS ON THE MODEL).
    TOYOTA HIGHLANDER= N950.000,(DEPENDS ON THE MODEL).
    TOYOTA AVENSIS= N650.000,(DEPENDS ON THE MODEL).
    TOYOTA PRADO= N1.3m,(DEPENDS ON THE MODEL).(DEPENDS ON THE MODEL).
    TOYOTA SEINNA= N650.000,,(DEPENDS ON THE MODEL).
    MERCEDES BENZ c300= N1.8m,,(DEPENDS ON THE MODEL).
    NISSAN PATHFENDER= N850.000,,(DEPENDS ON THE MODEL).
    TOYOTA RAV4= N700.000,,(DEPENDS ON THE MODEL).
    HONDA PILOT= N850.000,,(DEPENDS ON THE MODEL).
    RANGE ROVER= N3.M,(DEPENDS ON THE MODEL).
    LAND ROVER-JEEP= N1. 8M,(DEPENDS ON THE MODEL).
    TOYOTA PICNIC= N650.000,,(DEPENDS ON THE MODEL).
    AND A LOT OF CARS ARE AVAILABLE PLEASE CONTACT #No_O7O 4540 6674 }

Recent Posts

Gbadebo Rhodes-Vivour: Commercialisation Of GMO Seeds Can Take Away Nigeria’s Food Sovereignty, Cause Health Issues

Gbadebo Rhodes-Vivour has condemned the commercialisation of GMO seeds, warning of threats to Nigeria’s food…

10 hours ago

Usyk Defeats Fury on Points in Riyadh to Retain Heavyweight Championship Title

Oleksandr Usyk has secured victory over Tyson Fury in Riyadh, successfully defending his heavyweight championship…

15 hours ago

Albania to Ban TikTok for a Year After Schoolboy’s Death Sparks Concerns

Albania plans a one-year TikTok ban from January after a schoolboy’s death sparks concerns over…

18 hours ago

Suspect Remanded in Custody Over Deadly Attack at German Christmas Market

A suspect accused of killing five people by driving into a crowded Christmas market in…

18 hours ago

US Fighter Jet ShotDown in Red Sea ‘Friendly Fire’ Incident Amid Heightened Tensions

A US Navy F/A-18 Hornet was mistakenly shot down over the Red Sea by the…

19 hours ago

NNPC, Dangote Refinery Slash Petrol Prices to N899 Per Litre Amid Rising Competition

NNPC has reduced petrol ex-depot price to N899 per litre, sparking competition with Dangote Refinery…

19 hours ago