Nigeria LNG Limited (NLNG) has reacted to reports suggesting that a tax appeal tribunal ordered it to pay $27.5 million to the Federal Inland Revenue Service (FIRS) as a revised company income tax (CIT) settlement for 2016.
NLNG’s general manager, external relations and sustainable development Andy Odeh in a statement on Thursday said the payment was born out of an amicable settlement out of court, not from any order made by the tribunal.
“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,” said the statement.
“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.”
The statement noted 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.”
