Apr 20, 2019
At work
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NEITI Backs Investigative Panel On Oil Theft, Calls For Action On Glencore Bribery Scandal
NEITI Backs Investigative Panel On Oil Theft, Calls For Action On Glencore Bribery Scandal
The Nigeria Extractive Industries Transparency Initiative (NEITI) has welcomed the decision of the federal government to set up a Special Investigative Panel on Oil Theft and Losses in Nigeria. A statement by NEITI released today in Abuja described the decision as bold, courageous and timely given the havoc oil theft has wrecked in oil production and the country’s revenue generation. To underline…
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NEITI --Nigeria Losses $9bn annually, As Solid Minerals Revenue Rise
NEITI –Nigeria Losses $9bn annually, As Solid Minerals Revenue Rise
By Zakaa Lazarus The Nigeria Extractive Industries Transparency Initiative (NEITI) on Wednesday Revealed that revenue received from the mining sector has continued to increase despite an estimated $9 billion lost to leakages in the sector. The Executive Secretary, NEITI Dr. Orji Ogbonnaya Orji in his remark at the opening of a two-day workshop organized in collaboration with Global Rights on…
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77 oil firms owe Nigeria $6.48b amid continuous borrowing
77 oil firms owe Nigeria $6.48b amid continuous borrowing
• Nigeria’s debt may hit N40tr by 2022 • Outstanding tax enough to offset budget deficit, says ex-CITN boss • Remittances from taxable Nigerians poor, CISLAC laments • Experts insist FG borrowing to evade in-country potential Finance, energy and tax experts, yesterday, raised concerns over the inability of the Federal Government to harness existing opportunities in the country before resorting to…
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Oil nears $80 with slim chances for more revenue due to theft
Oil nears $80 with slim chances for more revenue due to theft
• Nigeria partly responsible for higher oil prices yet can’t break even • Despite amnesty, N32b security cost, average loss to crude theft, vandalism surpasses 200,000bpd • ‘Operators cant make money, need newer security models’ Despite ongoing amnesty and other measures to address crude theft in the Niger-Delta region and over N32 billion paid between January and July on pipeline security and…
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FG inaugurates NEITI’s governing board
FG inaugurates NEITI’s governing board
The Federal Government has inaugurated the governing board of the Nigeria Extractive Industries Transparency Initiative (NEITI) to enhance the smooth running of its administration. Mr Boss Mustapha, Secretary to the Government of the Federation (SGF), who performed the inauguration on Thursday in Abuja, congratulated the members, saying their appointment as NEITI board members was based on…
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