Nigerian Oil blocs’ winners emerge, get 45 days to pay Signature bonus

  The Department of Petroleum Resources (DPR) has picked winners for 57 marginal oil blocs with demand for them to pay as much as $1.14 bil  lion cumulative Signature Bonus in 45 days. The agenxy itself said rarlier that it targetted at least $500 million in signatire bonuses from the process. The agency, Platforms Africa gathered, distributed the third letter in the series of correspondences it has been sending to, apparently, the 161 companies selected as winners of interests in the 57 marginal fields on offer in the country’s second…

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N2trn unremitted revenues’ racket rocks Nigerian oil industry regulator, DPR

  A N2 trillion unremitted revenues’ racket has rocked the Department of Petroleum Resources (DPR), watchdog for the Nigeria’s oil industry. The oil and gas industry regulator raked in N2.4 trillion in 2019 but only remitted N44 billion, leaving behind N2 trillion for personal use, according to a document from the Nigeria’s Senate. The upper legislative house, which has begun a probe of this racket has barred Agency’s Director, Sarki Auwalu from appearance before it through proxy as probe of N2.4trn revenues continued on Tuesday. The Senate has penultimate Friday…

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