International Advocacy
group, ActionAid, has accused multinational oil companies of fleecing
Nigeria of $3.3 billion in tax breaks over the last 10 years through
their joint investments in liquefied natural gas project.
Nigeria has a joint venture with Shell,
Total and Eni to operate the liquefied natural gas project through
Nigeria Liquefied Natural Gas (NLNG). The joint venture of the four
shareholders leaves the Federal Government represented by the Nigerian
National Petroleum Corporation (NNPC), with 49 per cent stake while
Shell, Total and Eni have 25.6 per cent, 15 per cent and 10.4 per cent
respectively in the project.
