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Nigeria's proposed fiscal policy puts ultra-high costs firmly in the firing line

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Report summary

After years of trying to pass the ill fated Petroleum Industry Bill (PIB) the current administration has broken up the PIB and revised the fiscal proposals within a separate document: the National Petroleum Fiscal Policy. Wood Mackenzie's fiscal experts have engaged stakeholders on all sides of the debate. We bring you our in depth economic analysis of the National Petroleum Fiscal Policy blending it with our unique global perspective.

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Table of contents

Tables and charts

This report includes 19 images and tables including:

Images

  • NPFP aims and instruments
  • Nigeria's proposed fiscal policy puts ultra-high costs firmly in the firing line: Image 2
  • Forecast of average realised oil royalty (post-2017)
  • Current and NPFP tax rates
  • Forecast average realised tax rates (post-2017)
  • Nigeria's proposed fiscal policy puts ultra-high costs firmly in the firing line: Image 6
  • Investor value change by contract type
  • Value and scale of fiscal changes in top 20 IOC jurisdictions (NPV10, base case)
  • NNPC-Majors JVs (NPV10)
  • Top ten indigenous companies (NPV10)
  • Deepwater PSC value change (NPV10)
  • Change in annual government revenues
  • Split of the barrel
  • Key metrics for new investment: onshore oil
  • Key metrics for new investment: shelf oil
  • Key metrics for new investment: deepwater oil
  • Key metrics for new investment: onshore wet gas
  • Nigeria's proposed fiscal policy puts ultra-high costs firmly in the firing line: Image 11

Tables

  • Simplified illustration of NHT calculation, TIP and production allowance for new deepwater production

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