The Nigeria LNG Limited has reacted to reports that a Tax Appeal Tribunal has ordered it to pay $27.5 million to the Federal Inland Revenue Service as a revised Company Income Tax settlement for 2016.
This was contained in a statement issued by its General Manager, External Relations and Sustainable Development, Andy Odeh.
The statement, on Thursday, said: “NLNG clarifies that 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.
“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.
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“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.’”
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