Tuesday 28 June 2016

NEITI: HOW DPR UNDERVALUED NNPC’S 8 OIL BLOCKS

The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Mr. Waziri Adio has explained how the Department of Petroleum Resources (DPR) undervalued eight Oil Mining Leases (OMLs) belonging to the Nigerian National Petroleum Corporation (NNPC).
 
Speaking recently when he visited the Corporate Head Office of THISDAY in Lagos, Adio said DPR valued NNPC’s 55 per cent stake in the eight OMLs at $1.8 billion, while Shell, Total and Agip valued their 45 per cent stake in the eight OMLs at over $2 billion.
 

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