Oil firms keen to know how Muhammadu Buhari, President-elect, plans to tax them could wait a long time as he makes ending corruption and reforming Nigerian National Petroleum Corporation, NNPC, his most urgent sector priorities.
Four party sources from Buhari’s All Progressives Congress, APC, told Reuters the issue of fiscal terms, seen as crucial by the industry, will have to wait on current thinking about oil and gas policies.
Crude output has stagnated close to two million barrels per day over the past few years, owing partly to under-investment.
