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Thursday, April 16, 2015
Nigeria’s new president, Muhammadu Buhari, has given some international firms a little breathing room if they were worried about taxes in the country as he decides to focus on ending corruption and reforming NNPC. This does not mean that taxes are not on the agenda, it just means that the president has prioritized fixing the internal structure of the sector before tackling petroleum taxes.
A Reutersreport citing sources in Buhari’s All Progressives Congress (APC) said the issue of fiscal terms would have to waiton current thinking about oil and gas policies.
“We need to address the structural issues and leave the fiscal for now,” Senator BukolaSaraki of the APC party told Reuters.“A more transparent NNPC (Nigeria National Petroleum Corporation) is needed with reasonable accounting,” he said.
The PIB, which has been delayed over and over again, will remain in limbo for now.
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