Motolani Oseni As part of efforts to boost revenue receipts in the face of the state of the nation’s fragile economy, the federal government of Nigeria has slashed Joint Venture (JV) stake to 40 per cent. In fact, President Muhammadu Buhari has directed the immediate commencement of the restructuring of the JV oil assets to […]
Managing Director of the Nigerian Ports Authority (NPA), Ms. Hadiza Bala-Usman has welcomed the decision of the Nigerian Senate to look into the activities of the Joint Venture Enterprises of the NPA, namely, the Lagos Channel Management, the Bonny Channel Company, and the Calabar Channel Management Company Limited, as raised in a motion on the […]
The Nigeria Extractive Industries Transparency Initiative (NEITI) has applauded the decision of the Federal Government to terminate cash call payments on Joint Venture Agreements with major international oil companies. Recall that in his 2017 budget speech, President Buhari made it clear that the Federal Government will no longer fund JVs from the Budget from January […]