Abuja – The Nigeria Extractive Industries Transparency Initiatives (NEITI), says Nigeria earned 21 billion dollars from the oil and gas sector in 2017. NEITI disclosed this in its 2017 oil and gas industry report released in Abuja on Wednesday. It said that the figure showed a 23 per cent increase from the 2016 figures of […]
P&ID: We’re adopting strategies to quash contract -FG Abuja – The Nigeria Extractive Industries Transparency Initiative (NEITI) says it will sign a Memorandum of Understanding (MoU) with the Economic and Financial Crimes Commission (EFCC) to strengthen effort in fight against corruption in the country. NEITI disclosed this in a statement signed by Dr Orji Ogbonnaya […]
The Nigeria Extractive Industries Transparency Initiative (NEITI) said the solid minerals sector contributed N52.75 billion to federation revenue in 2017. EITI in its latest report on Solid Mineral Sector released in Abuja, on Sunday, said the amount was a 21 per cent increase on the N43.22 billion contributed by the sector in 2016. The report […]
Michael Ajayi The Nigerian Extractive Industries Transparency Initiative (NEITI) has disclosed that the Nigerian National Petroleum Corporation (NNPC) under-remitted N77.92 billion to the federation account in 2017. The pilot study report on the sale of crude oil, however, noted that there is an ongoing reconciliation of the amount that arose from KPMG Forensic audit. The […]
…Top earning states: Delta- N101bn; Akwa Ibom- N100bn, Rivers- N85.9bn; Bayelsa- N77bn; …Revenues in Q2 2018, highest since Q3, 2014- NEITI The Nigerian Extractive Industry Transparency Initiative (NEITI) has disclosed that the federal, states and local government areas (LGAs) shared N3.95 trillion from the Federation Account within the first half of this year. The agency […]
As the country battles to enact bills establishing several petroleum bills to enshrine transparency in the sector, the Nigeria Extractive Industries Transparency Initiative (NEITI), is set to hold a symposium on the Petroleum Industry Governance Bill (PIGB) recently passed by the National Assembly. Daily Times recall that that apart from the PIG bill, other bills […]
The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that the three tiers of government shared N4.545trillion in 9 months as FAAC allocations between January and September, 2017. In a statement made available in Abuja on Wednesday by its Head of Corporate Communications Dr. Orji Ogbonnaya Orji, NEITI said that the information was contained in […]
…as Ogun, Kogi, C’ River lead Only 481 companies operating under government approved mining or quarrying licences paid royalties in 2015, the latest independent audit report of the Nigeria Extractive Industries Transparency Initiative, NEITI, shows. Of the 481 companies, only 42 met the N3 million and above materiality threshold and accounted for over 87 per […]
Nigeria’s oil and gas sector saw a revenue fall of 5 percent between 2013 and 2014, the Nigeria Extractive Industries Transparency Initiative (NEITI) latest report has revealed. The total revenue flow for the sector fell from $58.07 to $55.5 billion between 2013 and 2014, a decline of about 5%. However, the solid minerals sector in […]
The Nigeria Extractive Industries Transparency Initiative (NEITI) has applauded the decision of the Federal Government to terminate cash call payments on Joint Venture Agreements with major international oil companies. Recall that in his 2017 budget speech, President Buhari made it clear that the Federal Government will no longer fund JVs from the Budget from January […]