NLNG clarifies $27.5M payment to FIRS as consent judgment, not court order


NLNG has clarified that media reports suggesting a Tax Appeal Tribunal ordered the company to pay $27.5 million to the Federal Inland Revenue Service (FIRS) as a revised 2016 Company Income Tax (CIT) settlement are misrepresentations of the facts.

NLNG states that the $27.5 million payment was made pursuant to an out-of-court settlement agreement reached amicably between the parties, without prejudice to their respective legal positions. 

The Tribunal merely adopted this settlement as a Consent Judgment in the appeal, rather than issuing an order, a press release signed by Andy Odeh, NLNG General Manager, External Relations and Sustainable Development, explained.

NLNG emphasizes that it remains a responsible corporate citizen, operating in compliance with Nigerian laws and in line with its vision of being "a globally competitive LNG company helping to build a better Nigeria."

Below is full text of the press release:

“Nigeria LNG Limited (NLNG) has noted media reports suggesting that a Tax Appeal Tribunal ordered NLNG to pay $27.5 million to the Federal Inland Revenue Service (FIRS) as a revised Company Income Tax (CIT) settlement for 2016.

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.

“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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