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.
