The push by the Management of the Nigerian National Petroleum Corporation to increase crude oil production and grow the nation’s revenue profile gained momentum with the closure of $875.75m alternative financing deal for the Nigerian Petroleum Development Company operated OML 65 through the Funding and Technical Services Agreement with CMES-OMS Petroleum Development Company .
Ajiya explained that over the project’s life, it was expected to generate over $6.35bn in taxes and royalties to the Federation to support Government’s medium to long term economic development agenda He informed that the project was expected to ramp up production at OML 65 from 900barrels per day to 60, 000 barrels per day with average production over field life at 40,000 barrels per day.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Suspected female kidnapper arrested in Gombe StateChecking out 'Suspected female kidnapper arrested in Gombe State' on The Nation Newspaper Community:
Source: TheNationNews - 🏆 6. / 69 Read more »
Border closure yielding good results — says BuhariChecking out 'Border closure yielding good results — says Buhari' on The Nation Newspaper Community:
Source: TheNationNews - 🏆 6. / 69 Read more »
CBN backs FG’s plan to increase VAT, says Nigeria has lowestMr Godwin Emefiele, the Governor of cenbank, says the plan to increase Value Added Tax (VAT) from five per cent to 7.5 per cent is in the right direction to raise country’s revenue. PwC_Nigeria firsNigeria Nairametrics LBSNigeria cenbank PwC_Nigeria firsNigeria Nairametrics LBSNigeria Its in the wrong direction sir cenbank PwC_Nigeria firsNigeria Nairametrics LBSNigeria Use Abu's money to entertain Abu....God dey cenbank PwC_Nigeria firsNigeria Nairametrics LBSNigeria I heard him and the apology that he offered. The truth that he may be acting a script he is not comfortable with. But my question is, if there is no more corruption and fuel subsidy had been removed, why do we talk of borrowing?
Source: TheNationNews - 🏆 6. / 69 Read more »
Why Nigeria must increase VAT - CBN gov, Emefiele - Daily Post NigeriaMr Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN), says the plan to increase Value Added Tax (VAT) from five per cent to 7.5 per cent is in To help replace the funds you criminally handed over to the cabals right?We the poor masses,are been forced to coverup for your incompetence and plundering of the common wealth. Olodo govt! We don’t need reason ,the ones we have been paying way as it done for us,it’s d senators dat keeps buying luxury cars for themselves and the payer of VAT and tax suffers ,if the tax we pay is been used judiciously we won’t complain of the increase ,but with all this it’s a no.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
BREAKING: Tribunal upholds Okowa’s election - The Nation NewspaperThe state election tribunal sitting in Delta state on Friday upheld the election of Governor Ifeanyi Okowa. Details Shortly…
Source: TheNationNews - 🏆 6. / 69 Read more »
Police uncover fake hospital in Edo - The Nation NewspaperMen of the Edo State Police Command have uncovered a fake hospital in at Obamwonyi Street in Bénin City.The Police arrested its operator, one... There is another in Irate , where women are killed in the name of finding a child
Source: TheNationNews - 🏆 6. / 69 Read more »