By Babs Omotowa Bloomberg recently reported that the Federal Government has agreed to an $11.5-per-barrel tax incentive to enable Shell’s $20 billion Bonga South West project to finally proceed. Some commentators have described the tax incentive as “unusually generous” — reportedly double the standard fiscal terms for deepwater projects in Nigeria. They argue that a previous Executive Order had capped such tax credits at 20% of a licensee’s annual tax liability. It is a fair question to ask. But before we answer it, it is worth starting with a simple…
Read More100% OF ZERO IS ZERO: WHAT NLNG TEACHES US ABOUT THE BONGA SOUTH-WEST TAX INCENTIVE
