Nigeria: Senate Passes Amended Production Sharing Contract Bill

16 October 2019

Abuja — The Senate has passed the Deep Offshore and Inland Basin Production Sharing Contract Act (PSCA) 2004(amendment) Bill 2019, which would enable Nigeria to earn about $1.5 billion from International Oil Companies (IOCs) operating in the country.

The amendment followed the reception of a formal request from President Muhammadu Buhari, which sought to amend the Act.

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