Malami Triples Kachikwu’s $21bn Production Sharing Contract Claim | Sahara Reporters

Attorney-General of the federation and Minister of Justice, Abubakar Malami, has increased the value of monies owed by oil companies operating under the 1993 production sharing contract from the $21bn to N6.43trn pronouncement made by Ibe Kachikwu, former Minister of State for Petroleum, to $62bn – 18.97trn.He said, “Computing the amount that should be credited to the Nigerian Government if the law was effectively applied, that translates to around $62bn against the international oil companies.

Reuters revealed that industry and government sources said Royal Dutch Shell, Chevron, Exxon Mobil and Eni were each asked to pay the government between $2.5bn and $5bn. Shell said that the government’s claim is in court and it does not agree with the legal basis of the intent.

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