Nigeria claims PIB will cut 'excessive' taxes

摘要

Nigeria said the final version of the Petroleum Industry Bill (PIB) will encourage onshore and shallow water operations with an improved tax regime. Minister of State for Petroleum Resources, Timipre Sylva, told the International Energy Forum and International Gas Union, that the PIB will increase commerciality for operators. "We are not unmindful that the industry players are of the view that the current level of taxation on onshore and shallow water operations is excessive and therefore the proposed PIB should include a significant lowering of these taxes for new investments and for existing operations," he said.