The management of Nigeria Liquefied Natural Gas (NLNG) has said the company will soon pay N220 billion as Income Tax to the Federal Government. This they said makes the company the biggest tax payer in the whole of Sub-Saharan Africa. The tax will also take the Federal Government's take in the company to 70%.
The Managing Director, Mr. Babs Omotowa said NLNG was responsible for 7% of the world's gas needs though it used to be 10%. He also mentioned that the firm's efforts have greatly reduced gas flaring in the country and the company was evolving into a world class giant. More money coming in for the government, what will it be spent on?
Read More: NLNG to remit N220bn