By Our Energy Correspondent Industry stakeholders have raised fresh concerns over the potential long-term consequences of the Federal Government’s recent Executive Order altering key fiscal provisions of the Petroleum Industry Act (PIA), warning that the move could undermine the financial strength of NNPC Limited and weaken investor confidence in Nigeria’s oil and gas sector. The Executive Order mandates the direct remittance of major oil and gas revenues into the Federation Account, effectively reversing revenue-retention mechanisms previously granted to NNPC Limited under the PIA. Those provisions allowed the national oil company…
Read MoreOIL AND GAS STAKEHOLDERS FEAR EXECUTIVE ORDER MAY UNDERMINE NNPC’S FINANCIAL STABILITY
