…Amendment awaits Senate concurrence
10 May 2017, Sweetcrude, Abuja – The House of Representatives has passed the bill seeking to amend the Nigeria Liquefied Natural Gas, NLNG, Act.
The bill, introduced by the House Minority leader, Hon Leo Ogor, sought to amend the Nigeria LNG (Fiscal Incentives, Guarantees and Assurances) Act, by introducing a 3 per cent payment by the Nigeria LNG Limited of its annual budget to the Niger Delta Development Commmission, NDDC.
The Act was amended by adding section 7b to the Principal Act, which provides that “Notwithstanding section 7 or any other provision of this Act, the Nigeria Liquefied Natural Gas Limited shall pay 3% of its total annual budget to the Niger Delta Development Commission Fund as required by section 14 subsection 1 and 2b of the NDDC Act establishment Act, 2000″.
With this development, the House is expected to transmit the bill to the Senate for concurrence.