House of Reps Public Hearing Day 2 – IPPG

IPPG Chairman

  • Pleased with clarity in the bill
  • PIFB
    • PIT – onshore and shallow water tax should be the same
    • Re-examine the fiscal terms for gas development
    • Assessment of royalties includes elements that cannot be controlled by producers
    • Production allowances should be available to all players
    • Cost efficiency factor should not measure costs that are outside the control of the producers. Should exclude statutory charges, CHA
    • APIT trigger price should be US$ 80
    • Exploration requires incentives to grow Nigeria’s reserves
    • Lease rental appears to be arbitrary
    • Existing frontier basins need to be grandfathered into the Bills
    • Pass the Bill now
  •  PHICB
    • Definition of Host and Impacted Community needs to be tightened up
    • Timelines for the establishment of the trust should be revised


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