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Nigeria Extractive Industries Transparency Initiative

Waziri Adio NEITI

Nigeria earned N28.6 trillion from oil, non-oil sources in five years

The Nigeria Extractive Industries Transparency Initiative (NEITI) said that N28.58 trillion was remitted to the Federation Account between 2012 and 2016, from mineral revenues, non-mineral revenues and Value Added Tax (VAT).
Waziri Adio NEITI

NEITI: N28.58 trillion remitted into Federation Account in five years

N28.58 trillion was remitted to Nigeria’s Federation Account between 2012 and 2016, according to a report from the Nigeria Extractive Industries Transparency Initiative (NEITI).

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.

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.

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.

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.

NEITI: Nigeria’s oil sector realised $17.05 billion in 2016

The total financial flows from Nigeria’s oil and gas sector in 2016 was the lowest in a decade and the fifth lowest since the return of democracy in 1999, the latest Nigeria Extractive Industries Transparency Initiative (NEITI) Oil & Gas Industry Audit report has revealed.
Sonni Ogbuoji

Sonni Ogbuoji: I’ll explore 26 solid minerals, others to benefit Ebonyi people

The 2019 governorship candidate of the All Progressives Congress (APC), in Ebonyi State, Sen. Sonni Ogbuoji, on Sunday, lamented that despite the commercial quantity of 26 solid minerals found in the state, it was yet to benefit from it.
Oby Ezekwesili

Oby Ezekwesili: I will end fuel subsidy regime in Nigeria

The presidential candidate of the Allied Congress Party of Nigeria, Dr. Obiageli Ezekwesili, has said that there is a need for a ‘pressing’ reform in the oil sector.
Zainab Ahmed

Zainab Ahmed resumes duty as supervising minister of finance

Mrs Zainab Ahmed, the Supervising Minister of Finance, has resumed duty, New Telegraph can confirm.

NEITI: Federal government shared N3.95 trillion revenue with states, local councils in first half...

Within the first half of this year, the federal, state and local governments in Nigeria have shared a total of N3.95 trillion from the Federation Account, the Nigeria Extractive Industries Transparency Initiative (NEITI) on Monday disclosed.
National Assembly

NEITI, National Assembly partner on implementation of remedial issues

The Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday said it was collaborating with the national assembly to set up a parliamentary group to coordinate legislative actions on implementation of remedial issues identified by independent audit reports of NEITI in the extractive industry.

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