NIGERIA TAX ACT, 2025

Section 109

Section 109 of 206Federal Republic of Nigeria

(1) Cost oil shall be allocated to the contractor in such quantum as
cost oil
shall generate an amount sufficient for the recovery of operating costs in oil
prospecting licences as defined in the production sharing contract and any oil
mining leases derived therefrom.
(2) All operating costs shall be recovered in US Dollars through cost oil
allocations in accordance with the terms of the production sharing contract.

Cite this section

Section 109, NIGERIA TAX ACT, 2025.

https://repo.podus.ai/laws/nigeria-tax-act/section/109/