Wednesday 9 November 2016

GAS PRODUCERS KICK AGAINST JV CASH CALL OBLIGATION


Stakeholders in the Nigeria gas sector have emphasised the need for the Federal Government to desist from Joint Venture (JV) funding, which gulped over $3.09 billion in the last one year. For example, Nigeria’s total export crude oil and gas receipt for the period of September 2015 to August, 2016 stood at $3.21 billion, out of which the $3.09 billion was transferred to JV Cash Call in line with 2015/2016 Approved Budget and the balance of $0.073 billion was paid to Federation Account.

Already, current cash call indebtedness of the Nigeria National Petroleum Corporation (NNPC), JVs, has risen to well over $6 billion.


No comments:

Post a Comment