L
LequteMan
Guest
Nigeria- As the oil crash bites and Nigeria is experiencing dwindling oil revenues, a Premium Times and The Will investigation says the country is set to lose some funds again.
According to the reports, Nigeria's Attorney General and Minister of Justice Mohammed Adoke is engaged in a shady oil deal with Addax oil that could see Nigeria lose $2.7bn (N549bn) in oil royalty and tax.
Excerpt:
Nigeria will lose at least N549 billion ($2.8 billion) in oil royalty and petroleum tax if what appears a shady and absurd deal the Attorney General of the Federation and Minister of Justice, Mohammed Adoke, is negotiating with the Nigerian subsidiary of Chinese-owned Addax Petroleum, sails through, a joint investigation by PREMIUM TIMES and THE WILL has revealed.
This new shocking deal is reminiscent of the infamous Malabu Oil scandal in which the Attorney General was also named. It is not clear whether he is engaged in this new deal for pecuniary reasons.
We learnt that Mr. Adoke is working to reach an out-of-court settlement in a law suit over a 15-year alleged miscalculation of oil royalty obligations and taxes worth $1.7billion and at least $1 billion respectively between Addax (plaintiff) on one side and the Nigerian National Petroleum Corporation, NNPC, Ministry of Petroleum Resources (Department of Petroleum Resources, DPR), Federal Inland Revenue Service (FIRS) and the Attorney General of the Federation (defendants) on the other.
click here to read more
#Nigeria #Addax #Adoke #NNPC #DPR #PremiumTimes
According to the reports, Nigeria's Attorney General and Minister of Justice Mohammed Adoke is engaged in a shady oil deal with Addax oil that could see Nigeria lose $2.7bn (N549bn) in oil royalty and tax.
Excerpt:
Nigeria will lose at least N549 billion ($2.8 billion) in oil royalty and petroleum tax if what appears a shady and absurd deal the Attorney General of the Federation and Minister of Justice, Mohammed Adoke, is negotiating with the Nigerian subsidiary of Chinese-owned Addax Petroleum, sails through, a joint investigation by PREMIUM TIMES and THE WILL has revealed.
This new shocking deal is reminiscent of the infamous Malabu Oil scandal in which the Attorney General was also named. It is not clear whether he is engaged in this new deal for pecuniary reasons.
We learnt that Mr. Adoke is working to reach an out-of-court settlement in a law suit over a 15-year alleged miscalculation of oil royalty obligations and taxes worth $1.7billion and at least $1 billion respectively between Addax (plaintiff) on one side and the Nigerian National Petroleum Corporation, NNPC, Ministry of Petroleum Resources (Department of Petroleum Resources, DPR), Federal Inland Revenue Service (FIRS) and the Attorney General of the Federation (defendants) on the other.
click here to read more
#Nigeria #Addax #Adoke #NNPC #DPR #PremiumTimes
