Nigeria: Tax measures included in Petroleum Industry Bill, 2021

The key objective of the bill is to overhaul and transform the Nigerian oil and gas industry.

Key objective of the bill is to overhaul and transform the Nigerian oil and gas industry.

The Petroleum Industry Bill, 2021—as passed by the National Assembly and pending assent by the president—includes myriad tax provisions that would affect operators in the petroleum sector.

The key objective of the bill is to overhaul and transform the Nigerian oil and gas industry—a sector that contributes approximately 90% of foreign exchange earnings and 60% of total income in Nigeria.
 

Read a July 2021 report [PDF 7.8 MB] prepared by the KPMG member firm in Nigeria 

 

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