Nigeria: Cabinet to sell stakes in joint oil assets to boost coffers

Nigeria: Cabinet to sell stakes in joint oil assets to boost coffers

Nigeria plans to cut its stake in joint oil ventures with multinational oil companies to 40 percent this year, its budget minister said, as the country seeks to boost revenue to grow an economy recovering from recession.

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Nigeria: Country Gets Highest EITI Rating

Nigeria: Country Gets Highest EITI Rating

The International Board of Extractive Industry Transparency Initiative (EITI) revealed that Nigeria has attained the highest rating in implementation of its standards by member countries. Waziri Adio, the Executive Secretary Nigeria Extractive Industry Transparency Initiative (NEITI) said that the West African country was among the countries that attained “Satisfactory Progress”, the highest rating of the board.

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Africa Oil & Gas: Nigeria hits oil majors with billions in back taxes

Africa Oil & Gas: Nigeria hits oil majors with billions in back taxes

Nigeria has ordered foreign oil and gas companies to pay nearly $20-billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa’s largest economy.

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