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Nigerian Parliament Considering Draft Petroleum Industry Bill

|Proposed Changes|Nigeria
Nigeria

According to recent reports, the Nigerian parliament is considering the draft Petroleum Industry Bill 2020 (PIB), which provides for the introduction of a new framework for the oil and gas industry. Among other things, the bill contains new measures on taxation, including the repeal of the current Petroleum Profit Tax Act and the introduction of a new Hydrocarbon Tax.

The Hydrocarbon Tax would…

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