Nigeria Set to Recover U.S.$62 Billion From Oil Firms
Since 1998, underpayment of taxes to the Nigerian government has finally caught up with oil giants operating in the country. Under the country's joint operating agreement, Nigeria is authorised to review the existing profit-sharing formula with its partners once crude oil prices at the international oil market rise above U.S.$20 per barrel.
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Nigeria:
Nigeria's Federation Account Inflow Topped N28.6 Trillion in Five Years - NEITI
Premium Times, 24 September 2019
Total revenue inflow to Nigeria's Federation Account between 2012 and 2016 was about N28.6 trillion, the Nigeria Extractive Industries Transparency Initiative (NEITI) said in its… Read more »
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Nigeria:
Nigeria to Earn Fresh $6.35bn in Taxes, Royalties From OML 65 Expansion
Daily Trust, 23 September 2019
The push by the Management of the Nigerian National Petroleum Corporation (NNPC) to increase crude oil production and grow the nation's revenue profile gained momentum with the… Read more »
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Nigeria:
IMF to Nigeria - Cut Down On Tax Exemptions, Incentives
Daily Trust, 11 April 2019
The International Monetary Fund (IMF) has told Nigeria to cut down on its tax exemptions and incentives list. Read more »
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Nigeria:
Zainab Unveils Scorecard as Foreign Reserves Hit U.S.$44.69 Billion
Vanguard, 17 May 2019
The Minister of Finance, Mrs Zainab Shamsuna Ahmed, has unveiled achievements of her ministry as the clock ticks for her exit, revealing that Nigeria's foreign reserves stood at… Read more »
InFocus
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The Nigerian National Petroleum Corporation has said that 15 oil firms have won bids to extract crude oil for a period of one year. The agreement was under the 2019/2020 Direct ... Read more »
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Shell Petroleum Development Company of Nigeria Joint Venture says it loses 10,000 barrels of oil a day to thieves in the Niger Delta. The company has called out for help from ... Read more »