Marginal field operator, Niger Delta Exploration and Production has decried the multiple taxes leveled against indigenous operators by the Federal, State and Local Governments, saying that the poses serious threatened their operations.
Multiple taxes have not only rendered marginal filed business unattractive to prospective investors, but is also a major challenge confronting marginal field operators in the country.
The Managing Director, Niger Delta Exploration and Production Mr. Layi Fatona, told news men in Lagos that there should also be timely agreements between lease holders and government agencies in all marginal filed operation, while also calling for duty waivers and tax holidays to enhance their competition.
A Marginal Field is a well that is close to its end of commercial life. The production rate of the field is usually low.
Mr. Fatona also said that “Government should assist indigenous marginal field operators through import duty waivers and tax breaks, and also improved local bank involvement by reducing rates”.