13% Derivation: Reps Assure Full Implementation In Revenue Sharing

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September 30, 2021

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The House of Representatives Committee on Host Communities has disclosed that it will ensure the full implementation of 13% derivation principle in revenue sharing for the oil producing States.

This was revealed by the Chaiman of the House Committee, Hon. Dunamene Deakor at an interractive and investigative meeting of the committee with the top management staff of the Greenvile LNG Ltd on the citing of the oil facilities at the National Assembly.

The Chaiman of the committee while speaking directed the oil company to produce all the approval documents for the execution of the gas project from Department of Petroleum Resources DPR by the Greenfield LNG.

“We requested for some documents and we are calling on the management of Greenville to present them.

“We will ensure the full implementation of the 13% derivation principle in revenue sharing and all other agreements”.

Gbega Ojo https://newdiplomatng.com/

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