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Federal High Court Update

A federal High Court sitting in Abuja has dismissed a suit seeking to nullify section 257 subsections 2 and 3 of the petroleum industry Act 2021.

Trail Judge, Justice Taiwo  Taiwo held that there was no inconsistency in section 257 sub section 2 and 3 off the 1999 constitution has amended as contended by the plaintiff.

The section concerns whether payments made by settlers under section 240 sub-sections 2 of the PIA are deductible for hydrocarbon tax and companies’ income tax and under what conditions a host oil community will lose its financial entitlement.