Nigeria: FG to Reap $300 Billion From PIB Yearly

2 February 2010

THE Nigerian National Petroleum Corporation, NNPC, weekend, said government revenue from upstream oil industry joint venture and production sharing contracts agreements would increase to $300 billion following passage of the Petroleum Industry Bill, PIB.

Dr. Mohammed Barkindo, NNPC's Group Managing Director, said this at a two-day workshop organised by the corporation in conjunction with the Federation Accounts Allocation Committee, FAAC, to improve understanding of the operations of the oil and gas industry in the country.

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