THE Nigeria Extractive Industries Transparency Initiative (NEITI) has urged Mr Bayo Ojulari, the new Group Chief Executive Officer (GCEO) of the Nigeria National Petroleum Company Limited (NNPC Ltd.), to strengthen reforms, transparency and accountability. NEITI urged the new leadership to prioritise timely publication of the company’s financial statements, full disclosure …
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THE Nigeria Extractive Industries Transparency Initiative (NEITI) has reaffirmed its unwavering commitment to ensuring that Nigeria’s oil, gas and mining revenues are managed for the benefit of all citizens. NEITI said it would deepen beneficial ownership disclosures to strengthen revenue tracking, contract transparency and ensure full implementation of extractive sector …
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PLANS are underway to recover $6 billion and an additional N66 billion owed to the Federal Government by stakeholders in the oil sector. Mr Ogbonnaya Orji, the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), stated this on Monday in Abuja. He was speaking at the 2025 budget …
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THE chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede, has urged all players in the oil and gas companies and relevant government agencies to fully comply with the annual Nigerian Extractive Industries Transparency Initiative (NEITI) Industry Audit process. He warned that it would be a costly mistake …
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THE Nigeria Extractive Industries Transparency Initiative (NEITI) has emphasised the importance of accountability and transparency in the nation’s energy sector. Its Executive Secretary, Dr Orji Ogbonnaya Orji, said this at the Association of Energy Correspondents Annual Strategic International Conference on Thursday in Lagos. https://newsextra24.com/crude-for-loans-nnpc-allocates-8-million-barrels-monthly-for-8-8-billion-debt-repayment-report/ The theme of the 2024 conference …
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THE Nigeria Extractive Industries Transparency Initiative (NEITI) says outstanding revenues due to the federal government in the oil and gas industry have risen to $6.071 billion and N66.4 billion respectively as of June 2024. NEITI disclosed this at the public presentation of its 2022 and 2023 Independent Oil and Gas …
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NIGERIAN Extractive Industries Transparency Initiative said it would soon release a probe report of about 198 extractive companies and agencies in its ongoing nationwide reconciliation and validation of the 2022/2023 revenues exercise. The Executive Secretary of NEITI, Dr Orji Ogbonnaya disclosed this in a statement by the agency’s spokesperson, Mrs …
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The Federal Government, on Thursday, said the amount spent on subsidising Premium Motor Spirit, popularly called petrol, between 2005 and 2021 was N13tn, adding that the country lost N16.3tn to oil theft from 2009 to 2020. It disclosed this in Abuja through the Nigeria Extractive Industries Transparency Initiative at a …
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Nigeria earned 741.48 billion dollars from oil and gas between 1999 and 2020, the Nigeria Extractive Industries Transparency Initiative declared in Abuja on Tuesday. Its Executive Secretary, Dr Orji Ogbonnaya Orji, made the declaration at a stakeholders’ engagement forum on the implementation of the Petroleum Industry Act. He said NEITI …
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The group operations of the Nigerian National Petroleum Corporation, NNPC, recorded a cumulative loss of N411.1 billion in 21 months between January 2015 and September 2016, the Nigerian Extractive Industries Transparency Initiative, NEITI, has stated. In report, the agency said its review of the NNPC’s monthly financial and operational reports …
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