.... @wemimospot @nigeriainfo, I'm afraid your guest on just concluded show on PIB committed a lot of blunders
1. It's not NNPC that is broken down into NURC & NMDPRA, it is DPR. She said repeatedly and confidently that the 2 agencies will be part of the the 3 successors to NNPC
1. It's not NNPC that is broken down into NURC & NMDPRA, it is DPR. She said repeatedly and confidently that the 2 agencies will be part of the the 3 successors to NNPC
2. Despite calling to correct this, she insisted that the 30% is on NNPC Limited profits as a company. Anyone truly familiar with upstream oil & gas industry will know the difference between profit oil/gas and profits of NNPC as a company. The 30% is on profit oil and profit gas 
That's the PIB extract on Frontier Exploration Fund above. The base of the fund is not NNPC's profits as a company, it is profit oil from production sharing, profit sharing and risk service contracts.
Profit Oil is what is left after deducting royalty oil, cost recovery oil,
Profit Oil is what is left after deducting royalty oil, cost recovery oil,
& tax oil from proceeds from crude in production sharing contracts. Different from profit of NNPC as a company, which is accounting, involving deduction of other operating costs from NNPC's share of profit oil and other revenues.
These two confusions from a "PIB expert" on radio could do more damage than the good (education) that the radio programme intends to achieve.
PS: Whether on profit oil or profit of NNPC Ltd, I believe the 30% is higher. But it's always good to make the conclusion from facts.
PS: Whether on profit oil or profit of NNPC Ltd, I believe the 30% is higher. But it's always good to make the conclusion from facts.
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