Wed. Jan 26th, 2022

Buhari finally signed the bill, first introduced in 2008, into law on August 16.

The bill reduces taxes and royalty payments and exempts deep offshore oil and gas production from some taxes. Shell is selling the joint venture licences held by the Shell Petroleum Development Company (SPDC) in Nigeria, which includes a 30% stake in 19 oil mining leases. The company has called for expressions of interest by September 10.

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