NIGERIA: GOVERNMENT TARGETS OIL MAJORS TO SEEK FUNDING FOR RECORD BUDGET

NIGERIA: GOVERNMENT TARGETS OIL MAJORS TO SEEK FUNDING FOR RECORD BUDGET

   Wed, 27 November 2019

Desperately searching for new funds to finance its record 2020 budget, Nigeria’s government will seek quick cash pay-out settlements from international oil companies by claiming massive tax and royalty arrears following a change in legislation. Even so, recovering oil sector revenues are unlikely to meet expenditure requirements, thus forcing the government to again tap into debt markets.



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