Nigeria To Earn Fresh $6.35bn In Taxes, Royalties – NNPC.
The push by the Management of the Nigerian National Petroleum Corporation to increase crude oil production and grow the nation’s revenue profile gained momentum with the closure of $875.75m alternative financing deal for the Nigerian Petroleum Development Company -operated OML 65 through the Funding and Technical Services Agreement with CMES-OMS Petroleum Development Company .
Mr. Ajiya explained that over the project’s life, it was expected to generate over $6.35bn in taxes and royalties to the Federation to support Government’s medium to long term economic development agenda. Throwing more light on the financing strategy, the CFO explained that the package entailed comprehensive financing solution that addresses the complex issues involved in growing NPDC’s production, minimizes its cost of capital, and maximizes its value preservation, adding that it also strikes a balance between risk and reward which gives investors a rate of return that is commensurate with funding a brownfield project which has significant exploration risk.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigeria to earn fresh $6.35bn in taxes, royalties from OML 65 expansion – Daily TrustThe 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 closure of $875.75m alternative financing deal for the Nigerian Petroleum Development Company (NPDC) operated OML 65 through the Funding and Technical Services Agreement with CMES-OMS Petroleum Development Company (CPDC).
Read more »
Nigeria to earn fresh $6.35b in taxes, royalties - The Nation NewspaperThe push by the Management of the Nigerian National Petroleum Corporation (NNPC) to increase crude oil production and grow the nation’s revenue...
Read more »
Nigeria to begin rehabilitation of refineries January 2020 - NNPC chief - Premium Times NigeriaRehabilitation or turn around maintenance of the four refineries has gulped billions of naira since 1999.
Read more »
Nigeria earned N28.6trn from oil, non-oil sources in 5 years – Daily TrustThe Nigeria Extractive Industries Transparency Initiative, NEITI, said that N28.58 trillion was remitted to the Federation Account between...
Read more »
Report reveals how Nigeria earned N28.6trn from oil, others in 5 years [Breakdown] - Daily Post NigeriaThe Nigeria Extractive Industries Transparency Initiative (NEITI) said that N28.58 trillion was remitted to the Federation Account between 2012 and 2016, f
Read more »
CBN backs FG’s plan to increase VAT, says Nigeria has lowestMr Godwin Emefiele, the Governor of cenbank, says the plan to increase Value Added Tax (VAT) from five per cent to 7.5 per cent is in the right direction to raise country’s revenue. PwC_Nigeria firsNigeria Nairametrics LBSNigeria
Read more »