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Nigeria Tax Act 2025 · Chapter 3 · Part III

Section 113Use of realisable price in determining royalty and petroleum profits tax in respect of crude oil

(1)
The realisable price as defined in the production sharing contract established by the holder in accordance with the provisions of the production sharing contract, shall be used to determine the amount payable on royalty and petroleum profits tax in respect of crude oil produced and lifted under the production sharing contract.
(2)
The parameters for new crude oil streams produced from the contract area shall also be determined in accordance with the provisions of the production sharing contract.
Cite as: Nigeria Tax Act 2025, section 113

Source: Nigeria Tax Act, 2025 (Act No. 7 of 2025), Official Gazette No. 117, Lagos, 26 June 2025. General information, not legal advice.