NIGERIAN OIL AND GAS INDUSTRY CONTENT DEVELOPMENT ACT

Section 90: Funds of the Board

2010Section 90 of 107Federal Republic of Nigeria

(1) The Board shall establish and maintain a fund to which all monies accruing to it shall be paid into or from which shall be defrayed all expenditure incurred by the Board.
(2) The Fund of the Board shall consist of-
(a) all subventions and budgetary allocations provided by the Federal Government:
(b) sums accruing to the Board by way of donations, gifts, grants, endowment, bequest or otherwise;
(c) interest and revenue accruing from savings and investments made by the Board;
(d) loans, which may be required from time to time for the objects of the Board, provided that the Board shall not, without the prior approval of the President, borrow money in compliance with the provisions of the Fiscal Responsibility Act ; and
(e) other revenues accruing to the board from any other source.

Cite this section

Section 90, NIGERIAN OIL AND GAS INDUSTRY CONTENT DEVELOPMENT ACT (2010).

https://repo.podus.ai/laws/nigerian-oil-and-gas-industry-content-development-act/section/90/