Business

We have no outstanding dividend payments to Government – NLNG

Published

7 years ago

June 12, 2017

Olu Emmanuel

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By Chioma Obinagwam

The Nigeria LNG Limited’s (NLNG) has said that its attention has been drawn 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 $15.9billion dividend accruing to the Federal Government.

The General Manager, External Relations of the company, Kudo Eresia-Eke further disclosed in a statement that NLNG has no outstanding dividend to the government and supports the principles and objectives of NEITI.

He said: “We wish to clarify that 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 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,” he continued.

He noted that the company 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,” he said.