Nigerian Bulletin: NLNG Unravels the Mystery Behind the $1.6billion Bailout Cash

The Nigeria Liquefied Natural Gas Ltd, NLNG has shed more light on the $1.6 billion which sparked a row between the Presidency and the Peoples Democratic Party (PDP). 

The fund is from the NLNG’s Company Income Tax and Education Tax, which it paid on June 17 to the Federal Inland Revenue Services (FIRS), The Nation confirmed yesterday. The money has nothing to do with dividends from the LNG giant.

This is contrary to the PDP’s claim that the money was from the Goodluck Jonathan administration’s savings. PDP spokesman Olisa Metuh, in a statement on Wednesday, claimed that LNG’s dividend stood at $5.6 billion before the May 29 handover and would have been shared but for the insistence of former President Jonathan that it should be left for the incoming administration to manage.

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