NLNG decries passage of bill to amend Act

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The Nigeria LNG Limited has decried the passage of a bill for the amendment of the NLNG (Fiscal Incentives, Guarantees and Assurances) Act by the House of Representatives, The Punch reports.

A statement released by the company’s General Manager, External Relations, Kudo Eresia-Eke, said the amendment violated the assurances and guarantees granted investors in the company by the country, which paved the way for the huge international investment that enabled the NLNG to become a reality and a success story.

“As we have said previously, including at a public hearing convened by the National Assembly in April 2016, we do not believe that this is in the national interest, as its direct consequence would be to project Nigeria as a sovereign-state promise breaker and an unsuitable destination for investments,” the firm said in the statement.