Accepted Quote by Olusegun Obasanjo
“What the oil producer gets paid is about 16 percent. The majority of it is tax, which in fairness to the government of this country they have accepted and admitted.”
About This Quote
Source Speech: Interview on Nigerian Economic Policy, 2005
The producer’s share of oil revenue is small because most of it goes to taxes that fund government services.
In simple terms: Oil producers keep a small share; taxes take most.
Key Takeaway
Advocate for fair tax structures.
Themes
economics
public finance
resource extraction
Mood
analytical
critical
Type
policy
economic
When to use this quote
- budget planning
- policy analysis
- investment decisions
Key Concepts
tax policy
government revenue
oil industry
Questions to Reflect On
- How do tax rates affect oil sector growth?
- What balance between revenue and incentive is optimal?
A Different Perspective
High taxes may deter investment and reduce production incentives.
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