Attah links NLNG’s success to enabling law

Key successes record­ed so far by the Ni­geria Liquefied Nat­ural Gas (NLNG) are down to the agency’s establish­ment act, which detailed its shareholding and gover­nance structure, the Manag­ing Director, Mr. Tony Attah has said.

In his presentation dur­ing a technical session at the ongoing 22nd Nigerian Economic Summit (NES) in Abuja, with the theme, “Creating a Global Cham­pion from Made-in-Nige­ria: The NLNG Story,” Attah said the NLNG Act provid­ed

incentives, assurances and guarantees.

These, according to him, significantly encouraged investment in the project, adding that countries can­not hope to legislate invest­ments into existence without addressing issues relating to accompanying incentives, guarantees and assurances.

Attah, in a statement by the NLNG General Manager, External Relations Division, Mr. Kudo Eresia-Eke,noted: “These incentives made it at­tractive for the internation­al investors and financiers to invest even during a period Nigeria was perceived to be a pariah state.

“Those investments grew and resulted in an inspira­tional Nigerian success sto­ry that the company is today, with assets now worth over $13 billion.”

He frowned at the contin­ued efforts of some stake­holders to undermine the Act, 18 years after the NLNG breakthrough, noting that the courts had been firm on the provisions of the Act in instances where the compa­ny was being compelled to pay levies.

According to him, “these attempts are apparently con­tinuing outside the courts, but we are hopeful that the country’s leadership will pro­tect its commitment through the Act, as well as avoid the portrayal of the country as one that does not honour agreements.”