The Federal Government received N3.532 trillion as Petroleum Profits Tax and Royalties from oil companies between the third quarter of 2015 to third quarter of 2017, data from the Central Bank of Nigeria (CBN) has revealed. Besides, oil producing states in Nigeria received N103.46 billion as 13 per cent Derivation Fund during the third quarter of 2017, as government’s total … Read More
PIGB Must Address Cost Of Crude Oil Production – Kachikwu
For Nigeria to remain competitive in the current era of low global oil price, the Petroleum Industry Governance Bill (PIGB) recently passed by the National Assembly must address the issue of production cost in the nation’s oil and gas sector to allow for competition in the global market. The minister of state for petroleum resources, Dr Ibe Kachikwu, stated this … Read More
Rivers community lauds NAOC for road project, drainages
The joy of the people of Mgbede community in Ogba/Egbema/ Ndoni Council of Rivers State has known no bounds since the Nigerian Agip Oil Company Limited (NAOC) and its joint venture partners completed and commissioned a 1km asphalt road and drainage for the people. The road project was funded and constructed by NAOC, operators of the NNPC/NAOC/OANDO Joint Venture.The Caretaker … Read More