NNPCL loses power to collect 30% PSCs as EO9 begins

The Federal Government has finally removed the power of the Nigerian National Petroleum Company Limited (NNPCL) to collect the 30 per cent management fee and the 30 per cent Frontier Exploration Fund (FEF) deductions from profit oil and profit gas under Production Sharing Contracts (PSCs), with immediate effect. It has, however, begun implementing Executive Order

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