Tag: NEITI
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Over 2,000 Mining companies owe federation accounts N2.76bn
The Nigeria Extractive Industries Transparency Initiative (NEITI) says over 2,000 companies operating in Nigeria’s solid minerals industry are indebted to the federation accounts to tune of N2.76 billion. The organisation disclosed this on Sunday in Abuja in a statement by its Deputy Director/Head, Communications and Advocacy, Mrs Obiageli Onuorah, to announce the release of the…
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77 oil, gas companies owe Nigerian government N2.7 trillion
About 77 oil and gas companies in Nigeria are indebted to the Federal Government to the tune of N2.659 trillion, the Nigeria Extractive Industries Transparency Initiative (NEITI), has said. The debt arises from the failure to remit petroleum profit tax, company income tax, education tax, value added tax, withholding tax, royalty and concession on rentals,…
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Nigeria imported 20.60bn litres of petrol in 2019 – NEITI
The Nigeria Extractive Industries Transparency Initiative (NEITI) says Nigeria imported a total volume of 20.60 billion litres of Premium Motor Spirit (PMS), popularly known as Petrol, in 2019. This is contained in NEITI audit report on the Oil and Gas Sector 2019 released on Wednesday in Lagos. NEITI said the figure was three per cent…
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Nigeria imported 20.60bn litres of petrol in 2019 – NEITI
The Nigeria Extractive Industries Transparency Initiative (NEITI) says Nigeria imported a total volume of 20.60 billion litres of Premium Motor Spirit (PMS), popularly known as Petrol, in 2019. This is contained in NEITI audit report on the Oil and Gas Sector 2019 released on Wednesday in Lagos. NEITI said the figure was three per cent…
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NEITI commends NASS on passage of PIB
The Nigeria Extractive Industries Transparency Initiative (NEITI) has welcomed with excitement, the bold step by both chambers of the National Assembly to pass the Petroleum Industry Bill (PIB). NEITI gave the commendation in a statement signed by Obiageli Onuorah its Head, Communications and Advocacy, in Abuja, on Thursday. She quoted the Executive Secretary of NEITI…
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Fix corruption in petrol importation, distribution, OrderPaper tells FG
Amidst flip-flopping position of the federal government on the petrol pricing and attendant negative hit on citizens, OrderPaper Advocacy Initiative has called on the authorities to fix corruption and general inefficiencies in the distribution chain. A statement by Oke Epia, Executive Director of OrderPaper on Saturday said the government has been shirking its responsibilities in…
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ICYMI: How FG, States, others shared N3.88trn in 6 months
The Federation Accounts Allocation Committee (FAAC) shared N3.879 trillion to the Federal Government, states, local government areas and other statutory recipients in the first half of 2020. This was contained in the latest edition of the quarterly report on the review of the Nigeria Extractive Industries Transparency Initiative (NEITI) released in Abuja, on Tuesday. A…
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Why exclusion of CSOs from 2020 marginal oil fields bid is bad for process
A coalition of Civil Society Organisations (CSOs) has decried their exclusion from the proposed Marginal Oil fields’ bid rounds announced by the Department of Petroleum Resources (DPR). The group’s protest was contained in a letter to the DPR, jointly signed by the National Coordinator, Publish What You Pay (PWYP) Nigeria, Peter Egbule; Executive Director Centre…
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How illegal mining is sabotaging the Nigerian economy – Ehi Braimah
By Ehi Braimah The Honourable Minster of Mines and Steel Development, Arc Olamilekan Adegbite, blew the whistle on some “powerful and influential” Nigerians recently during a media briefing in Abuja. What was the story? According to Arc Adegbite, these economic saboteurs – that’s what they are – have been putting pressure on the federal government…
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Nigeria earns $32.63bn from oil, gas sector in 2018 — NEITI
The Nigeria Extractive Industries Transparency Initiatives (NEITI) said Nigeria earned a total of 32.63 billion dollars from the oil and gas sector in 2018. NEITI disclosed this in the Oil and Gas industry Audit Report released in Abuja, on Monday. It said that the amount represented a 55 per cent increase on the 20.99 billion…