FG grants energy firms N23bn waivers in 2013

The Federal Government granted a total of N23.493 billion as waivers and exemptions to energy firms and for energy-related activities in the year 2013.

The amount, according to documents obtained from the Budget Office, is mainly for import duty exemption and waivers for importation of plants, machinery, equipment, spare parts, gas generators and turbines, supply of captive power generator, dredging machinery and quarry equipment among others.

Specifically, a total of N18.495 billion was granted as waivers and exemptions for companies in the gas sector and for gas-related activities; N4.403 billion was granted to firms in the power sector and for power related imports, while the mining sector enjoyed waivers and exemptions valued at N595.43 million.

– See more at: http://www.vanguardngr.com/2014/01/fg-grants-energy-firms-n23bn-waivers-in-2013/#sthash.PkVuuOHl.dpuf

About Author: Integrity Org

Integrity Organization is committed is an anti-corruption, research and advocacy organization. Its activities are centered on the aim to reduce the tolerance for corruption in Nigeria.

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