RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home News

FG receives N813bn from Total, Chevron, CNOOC in one year

tomibady by tomibady
August 15, 2018
in News
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

THE Federal Government received $2.68 billion, about N817.4 billion, from Total, Chevron and China National Offshore Oil Company, CNOOC, in 2017, according to documents obtained from the Canadian government.

The companies presented the information under Canada’s extractive industry law which required extractive entities active in Canada to publicly disclose, on an annual basis, specific payments made to all governments in Canada and abroad. Giving a breakdown of the payments which was made to the various agencies of government, the report which was compiled in 2018, noted that Total made total payments of $1.2 billion to the Nigerian government; Chevron made total payments of $1.4 billion, while CNOOC paid the country $586.7 million. Reporting under the law, Total said it paid $614.8 million in taxes; $2.7 million in licensing fees; $46.2 million in infrastructure improvements, mainly to the Niger Delta Development Commission, NDDC; and $488.5 million for production entitlements. Chevron on the other hand, paid $5.4 million, under the Nigerian Export Supervision Scheme, NESS; it paid $18.3 million $101.24 million as fees to the Nigerian Content Development Management Board, NCDMB and Niger Delta Development Commission, NDDC respectively. Chevron also paid $275.9 million and $2.4 million to the Department of Petroleum Resources, DPR, for royalties and fees respectively, while it paid $1 billion in taxes to the Federal Inland Revenue Services, FIRS. Further breakdown showed that Chevron paid $214.8 million and $78.9 to the Federal Government for Niger Delta Concessions; while it paid $817.3 million and $48.4 million for its Oil Mining Leases, OML, 127 and 128. In addition, CNOOC paid the FIRS $75.7 million; while $1.43 million was paid to the Kaduna State Government under the heading Infrastructure Improvement Payments.

AlsoRead

“The Tin Can Island Port is deteriorating” – Mohammed Bello-Koko

Twitter Acquisition deal temporarily on hold, Says Elon Musk

Emirates Airlines announced the adoption of Bitcoin as a Payment alternative

Tags: Vanguard
Previous Post

FMDQ OTC Securities Exchange Announces New Board Members at its 6th Annual General Meeting

Next Post

Life insurance key to financial planning – Adeosun

Related News

“The Tin Can Island Port is deteriorating” – Mohammed Bello-Koko

“The Tin Can Island Port is deteriorating” – Mohammed Bello-Koko

by Rate Captain
May 16, 2022
0

The Nigerian Ports Authority has announced the  deteriorating state of the Tin Can Island port, saying that more attention should...

Twitter Acquisition deal temporarily on hold, Says Elon Musk

by Rate Captain
May 13, 2022
0

Elon Musk has announced that his $44 billion deal to acquire Twitter is now on hold. This is coming after...

Emirates Airlines announced the adoption of Bitcoin as a Payment alternative

Emirates Airlines announced the adoption of Bitcoin as a Payment alternative

by Rate Captain
May 13, 2022
0

One of the United Arab Emirates (UAE) leading airlines, Emirates Airlines has announced the adoption of Bitcoin as a payment...

After the alleged claim of not being aware of the strike, President Buhari begs ASUU to call off the strike!

After the alleged claim of not being aware of the strike, President Buhari begs ASUU to call off the strike!

by Rate Captain
May 12, 2022
0

President Muhammadu Buhari has appealed to the Academic Staff Union of Universities (ASUU), to consider the plight of the students...

Next Post

Life insurance key to financial planning – Adeosun

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Google hit by second UK antitrust probe into online ad

Google hit by second UK antitrust probe into online ad

May 27, 2022
Ethereum breaks below $1,800 as selling pressure accelerates

Ethereum breaks below $1,800 as selling pressure accelerates

May 27, 2022

Popular Story

    Rate Captain

    RateCaptain

    We bring you the most accurate in new and market data. Check our landing page for details.

    • FX Rates
    • Commodities
    • Money Market
    • Cryptocurrency
    • Corporates
    • Contact Us

    Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

    No Result
    View All Result
    • FX Rates
    • Commodities
    • Money Market
    • Cryptocurrency
    • Corporates
    • Contact Us

    Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.