Tag: NEITI
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36.5 million barrels of oil stolen in 2017 – NEITI
It said Nigeria lost about 36.5 million barrels of crude oil to theft and sabotage in 2017, the Nigerian Extractive Industry Transparency Initiative has said. An analysis of the latest annual oil and gas report of the Nigeria Extractive Industries Transparency Initiative for the 2017 fiscal said the country witnessed a reduction in oil theft…
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Nigeria generated $17.05b from oil, gas sector in 2016 – NEITI
Nigeria generated $17.05 billion from the oil and gas sector in 2016 representing a 31 per cent decline on the $24.79 billion generated in 2015,according to the latest report of the Nigeria Extractive Industries Transparency Initiative (NEITI). The sector fetched $68.44 billion for the country in 2011. The report says the 2016 earnings are Nigeria’s…
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NNPC, NPDC, others yet to remit $22.06bn, N481.75bn to FAAC – NEITI
The Nigeria Extractive Industries Transparency Initiative (NEITI) says that the 22.06 billion dollars and N481.75 billion yet to be remitted by NNPC and others to the Federation Account are legacy issues from its audit reports for 1999 to 2015. NEITI made the clarification in a statement signed by its Director of Communications and Advocacy, Dr…
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Nigeria’s oil revenues dip by 55 percent to $24.8b in 2015 – NEITI Report
…tasks government on oil metering and recovery of $3.7billion outstanding revenues …Urges NNPC to give full account and status of $16.8 billion NLNG dividends The Nigeria Extractive Industries Transparency Initiative (NEITI) 2015 Oil & Gas Industry Audit Report released on Thursday revealed that Nigeria’s oil and gas revenues plunged from $54.5 billion in 2014 to…
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How federal, states, councils share N2.8tr in six months – NEITI
The Nigeria Extractive Industries Transparency Initiative (NEITI) on Sunday said the three tiers of government; federal, states and local governments shared N2.788 trillion between January and June this year. According to a statement by NEITI Director of Communications, Dr. Orji Ogbonnaya Orji, the allocation shows a 38 per cent increase on the N2.019 trillion shared…
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Reps uncover $15bn unremitted oil, gas revenue
House of Representatives Ad hoc Committee investigating allegedly missing 17 billion dollars crude oil and Liquified Natural Gas revenue, on Monday uncovered 15 billion dollars unremitted revenue into Federation Account. The trace of the alleged missing fund believed to have been stolen and diverted to a foreign destination, was contained in the two documents submitted…