By Gbenga Adedayo
Nigeria LNG Limited has clarified media reports on Tax Appeal Tribunal in which it is directed to pay $27.5 million to the Federal Inland Revenue Service as a revised Company Income Tax settlement for 2016.
According to the company’s General Manager, External Relations and Sustainable Development, Andy Odeh, “these reports misrepresent an out-of-court settlement that was reached amicably between the parties, without prejudice to their respective legal positions, which the Tribunal merely adopted as Consent Judgment in the appeal”.
He noted that “the payment by NLNG was thus made in furtherance of a settlement agreement reached between the parties and not because of any order made by the Tribunal.”
He asserted further that “NLNG remains a responsible corporate citizen, and consistently operates in compliance with Nigerian laws and will continue to operate in line with its vision of being ‘a globally competitive LNG company helping to build a better Nigeria.”