FG SEEKS 50% ROYALTY FROM DEEP OFFSHORE, INLAND BASIN PSCS IN NEW LAW

FG SEEKS 50% ROYALTY FROM DEEP OFFSHORE, INLAND BASIN PSCS IN NEW LAW
June 13, 2018 Advocaat Law Practice

The Federal Government of Nigeria has unveiled plans to boost its revenue with a proposed royalty rate of 50% for oil operations in the Deep Offshore and Inland Basin areas under a new bill (Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) bill, 2018).