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The minister of Petroleum, Diezani Alison-Madueke has urged foreign majors to accept higher government taxes from crude production as outlined in a draft oil bill. This assertion was made at an economic summit in Abuja on Tuesday December 4th 2012.
The minister said fiscal reforms in the proposed Petroleum Industry Bill (PIB) would be the most comprehensive in four decades, describing the increased oil revenues in the PIB as small and said they were fair, given sustained oil prices. Details http://tinyurl.com/bvdzatn