Nigeria bars NNPC from collecting 30% oil management fee
Change
Nigeria issued an executive order preventing the Nigerian National Petroleum Company Limited from taking a 30% management fee on oil and gas revenues and directing the withheld amounts into federal and state government coffers.
Why it matters
The change removes a major deduction that the national oil company previously applied to upstream revenue, shifting fiscal control over hydrocarbon receipts toward budget authorities. It also increases legal and regulatory uncertainty for investors because the measure was enacted without parliamentary approval.
Implications
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