Nigeria's Richest Woman Says Onshore Oil Taxation Too High

Updated on
  • Petroleum Industry Bill should address onshore taxation
  • Alakija seeking to diversify business into power, agriculture

Billionaire Folorunsho Alakija. Photographer: George Osodi/Bloomberg

Nigeria’s 85 percent tax on onshore crude oil production is dissuading local investors from taking over assets from international oil companies, said Folorunso Alakija, an energy tycoon and the nation’s richest woman.

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