Jonathan Appoints Nuhu Ribadu to head Petroleum Task Force
Category: Oil Sector
Tuesday, 07 February 2012 16:18
PRESS RELEASE - PETROLEUM REVENUE SPECIAL TASK FORCE
Consistent with the policies and promises of President Goodluck Ebele Jonathan’s Administration, and underpinned by the yearnings of the people of Nigeria for transparency in the Petroleum Industry, the Honourable Minister of Petroleum Resources has set up a Petroleum Revenue Special Task Force designed to enhance probity and accountability in operations of the Petroleum Industry.
The Petroleum Revenue Special Task Force, whose membership is listed below, is charged with the following terms of reference:
Terms of Reference
1. To work with consultants and experts to determine and verify all petroleum upstream and downstream revenues (taxes, royalties, etc.) due and payable to the Federal Government of Nigeria;
2. To take all necessary steps to collect all debts due and owing; to obtain agreements and enforce payment terms by all oil industry operators;
3. To design a cross debt matrix between all Agencies and Parastatals of the Federal Ministry of Petroleum Resources;
4. To develop an automated platform to enable effective tracking, monitoring, and online validation of income and debt drivers of all Parastatals and Agencies in the Federal Ministry of Petroleum Resources;
5. To work with world-class consultants to integrate systems and technology across the production chain to determine and monitor crude oil production and exports, ensuring at all times, the integrity of payments to the Federal Government of Nigeria; and,
6. To submit monthly reports for ministerial review and further action.