Deep Offshore

SKEWED CRUDE PROFIT SHARING: How Nigeria lost over $62billion

SKEWED CRUDE PROFIT SHARING: How Nigeria lost over $62billion

Why bill was taken to Buhari in UK for assentHistory was made in the petroleum sector of Nigeria’s economy on Monday, October 4, 2019, when President Muhammadu Buhari in faraway London, United Kingdom, assented to the amended Deep Offshore and Inland Basin Production Sharing Contracts Act. Following the development, what has the country lost, stands to gain? The answers are tucked in this piece.