On the passage of the Bill to amend the Deep Offshore and Inland Basin Production Sharing Contract, Cap D3 LFN (Amendment) Bill 2019, today (15 October,2019), I sincerely wish to thank the president of the Nigerian Senate,Distinguished Sen, Ahmad Ibrahim Lawan, and all my distinguished colleagues, especially the members of the joint committee on Petroleum (Upstream); Gas; Finance; and the Judiciary and Human Rights, for their support and contributions towards the smooth passage of this all-important bill.
I am also grateful to all the stakeholders of the industry who made useful contributions, for the amendment, during our consultative meeting/public hearing on the bill yesterday.
Unarguably, the passage of this bill will mark the end of zero royalty in our deep offshore and will greatly improve revenue to the Federal Government of Nigeria
