Insight
Nigeria's Petroleum Industry Fiscal Bill: first impressions
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
In May 2018, the Petroleum Industry Fiscal Bill (PIFB) was published on Nigeria's parliamentary website. The PIFB is the latest fiscal iteration in the decade-long saga to reform and restructure Nigeria's petroleum industry. We compare the bill to existing arrangements, as well as to the 2017 National Petroleum Fiscal Policy consultation document. Our analysis highlights the PIFB's significant shifts in fiscal policy.
Table of contents
- Executive summary
- Background
- Royalty
- Taxes
- Allowances
- Conclusions
Tables and charts
This report includes the following images and tables:
- Chart 1: Minimum and maximum royalty rates by terrain
- Table 1: PIT/APIT rates
- Chart 2: PIT/APIT oil rates
- Chart 3: PIT/APIT gas rates
- Chart 4: Effective tax rates by terrain
- Chart 5: Production allowances by cost efficiency factor
- Chart 6: Additional production allowances by reserve replacement ratio
What's included
This report contains:
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