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Nigeria Extractive Industries Transparency Initiative

NEITI tasks federal government to revisit production sharing agreements in oil sector

Nigeria Extractive Industries Transparency Initiative (NEITI) has alerted the nation on the urgent need to review the Deep Offshore and Inland Basin Production Sharing Agreement between Nigeria and oil companies.

NEITI unveils portal to simplify audit reports in extractive industries

The Nigeria Extractive Industries Transparency Initiative (NEITI), on Thursday unveiled a data “DashBoard’’ platform to simplify its audit reports to ensure informed knowledge for public debate on transparency and accountability in the nation’s extractive industries.

Nigerians urged to use technology to hold government accountable

As the 2019 elections draw near, Nigerians have been urged to use available technology to follow up on government and hold them accountable while in public service.

NEITI: Federal government, others shared N1.94 trillion in first three months of 2018

The Federation Account Allocation Committee (FAAC) disbursed N1.938 trillion in the first quarter of 2018 to the three tiers of Nigeria’s government, a report from the Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed.

Maikanti Baru: NNPC most transparent organisation in Nigeria

The Group Managing Director of the Nigerian National Petroleum Corporation, Dr Maikanti Baru, says it will prove to Nigerians that the Corporation is the most transparent organisation in Nigeria.

OPL 245: A most popular oil block

The Petroleum Act 1969 (as amended) grants powers to the Ministry of Petroleum, acting through the Department of Petroleum Resources (DPR) to administer the licensing of oil blocks in the country.

Experts: Nigeria’s solid mineral export potential may hit N10 trillion

Experts have said that Nigeria’s solid mineral sector is capable of generating over N10 trillion revenue in export, providing five million jobs and contributing over 20 per cent to Gross Domestic Products (GDP).

NEITI: How NNPC failed to remit $16.8 billion into Federation Account

The Nigerian National Petroleum Corporation failed to remit $16.8 billion paid reportedly to it as dividends by the Nigeria Liquefied Natural Gas (NLNG) Limited, the Nigeria Extractive Industries Transparency Initiative (NEITI) said Thursday.

Minister: New oil licences will be issued under PIB

Emmanuel Ibe Kachikwu, minister of state for petroleum resources, says new licences for oil blocks will be issued when the petroleum industry bill is passed by the national assembly.

Nuhu Ribadu: EFCC has done fairly well

Nuhu Ribadu, former chairman of the Economic and Financial Crimes Commission (EFCC), says the commission has done “fairly well” in its fight against corruption.

FAAC disbursements increase by 25% in 2017 – NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI) on Tuesday in Abuja said the Federation Account Allocation Committee (FAAC) disbursements increased by 25 per cent in 2017.

Nigeria, Niger sign pact to build refinery in Katsina

Nigeria and the Niger Republic, will in 60 days time sign binding bilateral and technical agreements that will enable both countries develop and build a new petroleum refinery in a Katsina State town which borders both countries, the Ministry of Petroleum Resources has disclosed.

NEITI laments poor use of oil, gas industry audit findings by federal lawmakers

The Nigeria Extractive Industries Transparency Initiative, NEITI on Thursday lamented the National Assembly’s poor use of past findings in its audit reports on the oil and gas industry operations.

PIGB to curtail stealing, revenue loss in oil industry – NEITI

The Nigeria Extractive Industries Transparency Initiative, NEITI, Sunday, commended the National Assembly for the passage of the Petroleum Industry Governance Bill, PIGB, stating that the Bill would stem the massive loss of revenue recorded in the petroleum industry, arising from corrupt practices and process lapses.

Federal govt loses $2.27 billion to OPA – NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI} says Nigeria lost N60.99 billion 2.27 billion dollars and to the Offshore Processing Arrangement (OPA) and crude for product swap arrangement, valuation issues, crude oil and petroleum products losses.

Nigeria’s gas production rose by 20.23 percent in 2015 – NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI) on Friday said Nigeria’s gas production rose by 20.23 per cent in 2015.

Nigeria loses 54.6% of its potential oil revenue in 2015 – NEITI

The Nigeria Extractive Industries Transparency Initiative on Friday said Nigeria lost 54.6 per cent of oil revenue, amounting to 29.7 billion dollars in 2015.

Nigeria lost $1.45 billion worth of crude oil in 2015 – NEITI

Nigeria lost 27.1 million barrels of crude oil produced in 2015 despite huge expenses on industry security, the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed.

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