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Auditor-General to conduct extensive audit of oil, mining sectors

The Office of the Auditor General for the Federation, OAuGF, weekend, said it has concluded plans to undertake an extensive audit of the extractive industries, comprising the petroleum and mining sectors, to identify and eliminate sharp practices, promote transparency and accountability.

Report: 692 million barrels of crude oil produced in 2017

The Nigeria Extractive Industries Transparency Initiative (NEITI) says that 692 million barrels of crude oil was produced in the country in 2017.
Waziri Adio NEITI

NEITI: Oil, mining agencies frustrating national planning, public finance management

The Nigeria Extractive Industries Transparency Initiative, NEITI, yesterday, accused Federal Government’s agencies in the mining and oil and gas industries of frustrating national planning, natural resource governance and public finance management.

NEITI to engage NNPC regularly

The Nigeria Extractive Industries Transparency Initiative (NEITI) says its constant engagement with the Nigerian National Petroleum Corporation (NNPC) on its operations was based on its mandate to promote corporate ethics, transparency and accountability in the oil and gas industry.
Waziri Adio NEITI

Transparency: We’re not attacking you – NEITI tells NNPC

The Nigeria Extractive Industries Transparency Initiative (NEITI), has urged the Nigerian National Petroleum Corporation (NNPC) to erase the impression that its constant engagement with it was a veiled attempt to attack or drag it into politics. Instead, the agency said it was rather in a bid to improve corporate ethics, transparency and accountability in the governance of the nation’s oil and gas industry.
Waziri Adio NEITI

NEITI: 36 States received N3.95 trillion in 2018

The Nigerian Extractive Industries Transparency Initiative (NEITI) on Wednesday disclosed that the 36 states of the federation received N3.95trillion as total revenues in 2018 but none of the states could fund their 2018 budget from their total revenue for the year.

NNPC chief Mele Kyari vows to improve transparency

The new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kolo Kyari, has promised to the fight corruption and improve transparency as he takes over the affairs of the NNPC.

Femi Falana asks court to compel federal government to recover $40 billion, N481 billion

Human rights activist and Senior Advocate of Nigeria (SAN), Mr. Femi Falana, has filed a suit at the Federal High Court in Abuja seeking to compel President Muhammadu Buhari’s administration to recover the sum of $40 billion and N481 billion based on the audit of the extractive industry carried out by the Nigeria Extractive Industry Transparency Initiative (NEITI).
President Muhammadu Buhari has appointed Mr. Mele Kolo Kyari as the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC).

OPEC, others commend President Buhari for appointing Mele Kyari as NNPC chief

The Organisation of the Petroleum Exporting Countries (OPEC) and the Nigerian Extractive Industries Transparency Initiative have commended Mr Mele Kolo Kyari’s appointment as NNPC boss.

NEITI wants new GMD to push for more reforms in NNPC

The Nigeria Extractive Industries Transparency Initiative (NEITI) on Thursday hailed the appointment of Mele Kyari as the new Group Managing Director (GMD) of Nigerian National Petroleum Corporation (NNPC).

Oil slump: FAAC disbursements drop in Q1 2019

The fall in oil prices slightly affected government earnings in the first quarter of 2019 as the Federation Allocation Account Committee disbursed N1.929tn between January and March this year.
Modibbo Hamman Tukur

Official: NFIU impounds N10bn suspected criminal funds

Nigerian Financial Intelligence Unit, NFIU, by the Egmont Group of Financial Intelligence Unit yesterday, said it had impounded N10 billion suspected criminal funds.

NEITI: Nigeria loses $16 billion to production sharing contracts

The Nigeria Extractive Industries Transparency Initiative (NEITI) said that Nigeria lost at least $16 billion in ten years due to non-review of the 1993 Production Sharing Contracts, (PSC), with oil companies.

Nigeria becomes first country in anglophone Africa to attain EITI’s highest rating

The Board of the Extractive Industries Transparency Initiative (EITI) has ranked Nigeria as having made ‘Satisfactory Progress’ in the implementation of its principles in the country’s oil, gas and mining sector.

EITI ranks Nigeria, Norway highest in extractive sector transparency

The board of the global Extractive Industries Transparency Initiative (EITI) Wednesday said Nigeria and Norway have achieved the highest level of transparency marks against the EITI standard in pushing for

FIRS remitted N4.63 trillion to FAAC between January and November 2018

The Federal Inland Revenue Service (FIRS) remitted about N4.63 trillion to the Federation Account between January and November this year, revenue collection figures submitted to the Federal Ministry of Finance have shown.

NNPC subsidiary, 22 others owing $49 million in gas flare fines, under-payments

The Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), and 22 other oil companies are yet to pay to the federation $3,632,075 as fines for flaring gas beyond their allowed thresholds.

NEITI: Oil revenue plunged by $51.39 billion

The total financial flows from Nigeria’s oil and gas sector slumped to $17.05bn in 2016, a 31 per cent decline on the $24.79bn generated in 2015, and a 75 per cent plunge on the sector’s peak earnings of $68.44bn in 2011.

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Xenophobia: No need to apologise Nigeria – Jo’burg mayor

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Tourist boat capsizes in Senegal, killing four

Four people died after a boat carrying dozens of tourists capsized during heavy storms in Senegal, authorities and emergency services said Tuesday.

WHO committed to supporting countries determine patient safety status – director

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Oscar Okwurime, 34, who was discovered lying in his cell at the Harmondsworth removal centre, had reported feeling unwell a number of times before he died, fid family and friends say

Nigerian who died in UK detention centre was denied medical attention – brother

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Asiwaju Tinubu bags African democracy award

The National Stalwart of Nigeria’s ruling All Progressives Congress (APC) Asiwaju Bola Tinubu has won African Democracy Award for his efforts to grow democracy and good governance on the continent.