Nigeria sets up committee on gas sector reform

May 27, 2005 02:00 AM

Federal Government has constituted a technical committee on the implementation of the downstream natural gas sector reform.
The committee will work out the details and run checks on the Natural Gas Draft Bill (NGDB) which is currently going through processes in the National Assembly. The committee will also critically examine the sections of the bill that relate to taxes and fiscal terms and advise government on the best options for the industry to be on fast track.

Members of the committee which were drawn from ministries of Finance and Petroleum Resources respectively included the Presidential Adviser on Petroleum, Dr Edmund Daukoru, Group Managing Director of NNPC, Dr Funso Kupolokun, Director General of Bureau of Public Enterprises (BPE), Mrs Irene Chigbue and representatives of the Federal Inland Revenue Service (FIRS).
The bill was evolved to provide a solid legal platform for the nation's new gas regime designed to phase out routine flaring of upstream gas, develop a viable domestic gas market through stimulation of massive internal utilization and earn the government as much revenue as from oil.

Source: Daily Champion
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