House of Reps Public Hearing Day 2 – NNPC

  • Ownership of oil and gas should be explicitly vested in the State
  • The bills should incentivise the development of oil and gas in the country
  • Simplify fiscal systems for ease of administration
  • Regulatory issues should not be included in the Bill but left for the Regulator
  • The government should be able to clawback where there are excess profits
  • Should not legislate on issues which should be dealt with by contract

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