Companies

NLNG may take over Bodo Bonny road

by KEHINDE AKINTOLA, Abuja

February 23, 2018 | 12:35 am
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There are indications Nigerian Liquefied and Natural Gas Limited may take over the portion of the Bonny-Bodo road project to ensure an uninterrupted project delivery as the House of Representatives has urged Federal Government to grant tax rebate to the company.

The resolution was passed sequel to the adoption of a motion sponsored by Randolph Brown, during Wednesday plenary session.

Recall that Babatunde Fashola, Minister of Power, Works and Housing, recently signed an agreement to hand over the Apapa area comprising Creek mRoad, Liverpool Road, Marine Beech, Mile 2 Oshodi, Oworonshoki to the Lagos end of the toll gate on the Ibadan Express way to Dangote Group for construction through tax incentive policy for individuals to benefit from tax remission and to recover investments made on public infrastructure like roads which other members of the public can utilize.

In his lead debate, Brown who applauded the gesture of NLNG, emphasized the need for the company to take over the maintenance of the road.

He noted that Nigeria derives immense benefits from the oil and gas industry that is being exploited by companies which include the NLNG situated on the Bonny Island, in the Bonny Local Government Area of Rivers State.

“The House also notes that despite the location of  a company of such importance to the Nigeria economy on the Bonny Island and the obvious devastating effects of oil and  gas exploration on the community, Bonny Island has no road linking it to the outside world.

“The House is aware that at the current time where sea piracy and kidnappings are rife in the country, the indigenes of Bonny Island are linked to the outside world only either through the internet, by sea or by air and the flights, in this case, are only for a select few elite or high ranking officers of the oil and gas industries on the Bonny island.

“The House is also aware that the Federal Government recently, flagged off the construction of the Bonny-Bodo Road which will link Bonny to the outside world by road, a long overdue project which therefore should not be allowed to suffer the same faith as it had been subjected to in the past.

“The House is cognizant that the NLNG has undertaken to bankroll 50% of the project and recalling previous failed attempts at executing the project, there is a need to appeal to the Federal Government to grant a tax incentive to the Company to enable it take over the entire Bony-Bodo road project,” the lawmaker observed.

He also applauded Government plan to review the five-year limit on tax to a 10-year period to sustain private investment in road infrastructure being a long term asset.

“The House acknowledges that tax rebate if granted will not only prompt and encourage the NLNG to take over the portion of the Bonny–Bodo road project but would equally facilitate and ensure a quick completion and delivery of the project,” Brown said.

While ruling, the House mandated the joint Committees on Works and Finance to monitor and ensure compliance.

KEHINDE AKINTOLA,  Abuja


by KEHINDE AKINTOLA, Abuja

February 23, 2018 | 12:35 am
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