Section 100: Fees, Royalties, Rents and other Payments to Government.

1 A holder of a petroleum prospecting licence or petroleum mining lease shall pay to the Government royalties, fees, rents and production or profit shares in the amount and time as prescribed in the licence or lease under this Act and regulations made by the Commission.

2 Where royalties, fees, rents, production or profit shares or other required payment to Government due under this section remains unpaid for a period of 30 days after the date when it becomes due for payment, it shall be considered as a debt to the Commission with interest accruing at a prevailing Central Bank of Nigeria (CBN) rate to be provided for in a regulation issued by the Commission.

3 The Commission may, after the 30 days period referred to under subsection (2) and until the debt is repaid, together with accrued and unpaid interest—
a enter into and upon any land, property or premises owned, possessed or occupied by the holder of the licence or lease;
b seize, distrain and sell any petroleum, petroleum products, engines, machinery, tools, implements or other effects belonging to the holder of the licence or lease, and the costs incurred by the Commission in connection with the seizure, distress and sale shall be added to the debt; and
c out of money arising from the sale of any item referred to in paragraph (b), pay off the debt and any surplus shall be paid by the Commission to the holder of the licence or lease.

4 Payment to Government referred to under this section shall not be waived or discounted.

5 Nothing in this section shall be interpreted as to reduce or amend the provisions of section 96 (1) (d) of this Act.