The petroleum club has stated that the proposed amendment of the Nigeria Liquefied Natural Gas (NLNG) Act by the National Assembly will further pose a serious threat to the economy of the nation.
The Petroleum Club described the action as a move in the wrong direction which will eventually wreck the liquefied natural gas business and the entire petroleum industry in the country. It added that if the amendment succeeds, a lot of oil companies and international lenders will lose confidence in Nigeria.
Senator Peter Nwaoboshi, the Chairman of the Senate Committee on Niger Delta, who supported for the amendment of the NLNG Act, bemoaned the refusal of gas companies to pay dues to the Niger Delta Development Commission (NDDC) for the past 16 years.
He said, “It is not whether that they contributed certain percentage. The point is that they had refused to obey the law since year 2000.”
However, Petroleum club described the reason given by the sponsors of the act as preposterous saying that NLNG was never a gas producing company but involve in process.
