Federal Executive Council has approved review of the 1993 Petroleum Deep offshore Act dealing with production sharing contract (PSC) as Nigeria is said to have lost closed to $21 United States Dollars due to non- review of the Act in the past 27 years.

Minister of State for Petroleum Resources, Ibe Kachikwu disclosed this while briefing State House Correspondents after the weekly Federal Executive Council meeting presided over by Vice President Yemi Osinbajo.

Details soon

 

Tony Ailemen, Abuja

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