Nigeria to Increase Share of Offshore Oil Profits, Minister Says
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Nigeria, Africa’s top oil producer, plans to increase its share of offshore oil profits because of “prevailing realities” in the industry, Petroleum Minister Diezani Alison-Madueke said.
The Petroleum Industry Bill, which was sent to Parliament in July, proposes to boost the government’s share to 73 percent from 61 percent, Alison-Madueke said today in an e-mailed statement from the capital, Abuja.