NLNG Has No Outstanding Dividend Payments To Government

NLNG Has No Outstanding Dividend Payments To Government

Nigeria LNG Limited’s NLNG has revealed that it has no outstanding dividend payments to Government and continues to conduct its business in accordance with regulation and the laws of the Federal Republic of Nigeria.

NLNG is reacting to news reports about the call by the Nigerian Extractive Industries Transparency Initiative (NEITI)’s to the House of Representatives to probe the alleged loss of 15.9 billion dollars dividend accruing to the Federal Government.

The company said it will uphold he tent of NEITI, including the promotion of transparency in payments by extractive industry companies to Governments and Government-linked entities.

General Manager, External Relations Division of NLNG, Kudo Eresia-Eke in a statement said: “NLNG like every responsible corporate entity supports the principles and objectives of NEITI, including the promotion of transparency in payments by extractive industry companies to Governments and Government-linked entities.

“NLNG has no outstanding dividend payments to Government and continues to conduct its business in accordance with regulation and the laws of the Federal Republic of Nigeria.

“NLNG is aware that NEITI had previously stated publicly in 2016 that records indicate that NLNG duly made the applicable dividend payment to the NNPC as representative of Government’s interest in the venture.

“NEITI’s 2017 Policy Brief document specifically details dividend payments by NLNG to NNPC between 2000 and 2014 and confirms that NNPC acknowledged receipt of same.”

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