Wednesday 24 August 2016

$25B PROSPECTIVE INVESTMENT THREATENED BY AMENDMENT OF NLNG ACT

The Chairman, National Association of Energy Correspondent (NAEC), Yusuf Yunus (left); and Managing Director/Chief Executive Officer, Nigeria LNG Limited, Babs Omotowa; Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, acting Managing Director, Niger Delta Power Holding Company (NDPHC),Chiedu Agbo, at the NAEC yearly conference  in Lagos. The Chairman, National Association of Energy Correspondent (NAEC), Yusuf Yunus (left); and Managing Director/Chief Executive Officer, Nigeria LNG Limited, Babs Omotowa; Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, acting Managing Director, Niger Delta Power Holding Company (NDPHC),Chiedu Agbo, at the NAEC yearly conference in Lagos.
 
Apart from the immediate relocation of investments in excess of $25 billion to other countries, Nigeria will also be opened to the risk of fines running into billions of dollars in International Courts if it amends the Nigeria LNG Acts, according to the Managing Director of Nigeria Liquiedfiled Natural Gas (NLNG), Babs Omot

Read more @ The Guardian

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