success Nwogu; Regina Otokpa 
The Executive Secretary and National Coordinator of Nigeria Extractive Industries Transparency Initiative (NEITI), Dr Orji Ogbonnaya Orji, has said that Nigeria earned $23.044,126 billion in 2021 as revenue payments by companies in the country.
He explained that sales of federation export crude oil and gas (less NNPCL In-Kind, taxes, and royalty) were $8.097,842 billion; taxes (excluding PAYE) $5,654,225; royalty, $5.478,190 billion, miscellaneous income $1.244,952, among others.
He spoke yesterday in Abuja during NEITI’s public presentation of the 2021 Oil & Gas Industry Report.
Orji stated that a total of 69 companies and Nigerian Liquified Natural Gas (NLNG) were covered out of which 22 fell within the criteria for reconciliation. He added that their payments represented 95.65 per cent of total payments by companies, which amounted to $11,332,792.48 billion.
He explained that NEITI’s standard for reconciliations was for companies that pay royalties in excess of $5 million.
He decried that the Nigerian National Petroleum Company Limited (SOE-NNPCL) under-remitted $1.951,115 billion during the period under review, adding that revenue payments by companies and received by government agencies totaled $23,046,088 billion
His words: “Revenue not remitted by the state-own-enterprise (NNPCL) is $1.951,115 billion representing 8.4 per cent; quasi-fiscal expenditure by SOE $6.931,285 billion (30.08 per cent), subnational payments (payments by NDDC and NCDMB) $963,629,000 (4.18 per cent), while total remittances to the Federation amounted to $13,200,059 billion, (57.27 per cent).
“All the companies, including the NNPCL provided us with the data and we also looked at their audited financial statements. These revenues were not remitted. NNPCL has its explanation. NEITI feels strongly that this should be brought to public knowledge and we have made our statement. It is a very balanced report and we then allow the public to judge.”
Meanwhile, the Deputy Director, Communications & Stakeholders’ Management, NEITI, Ms Anthonia Obiageli Onuorah, stated that the total unremitted revenues to the Federation by some relevant government agencies and companies in the oil and gas sector in the year 2021 have risen to over $9.85 billion, disclosed in the 2021 Oil and Gas Industry Report by NEITI released yesterday
She said: “A compilation of the outstanding financial liabilities due to the Federation by the report indicated that a total of $13.591million revenues was payable to the Federal Inland Revenue Service (FIRS) as of July 31, 2023, while the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had outstanding tax collectible revenues of $8.251 billion as at December 31, 2022. Over 80 per cent of these outstanding financial liabilities are owed by NNPCL.
The Secretary to the Government of the Federation, George Akume, represented by the Permanent Secretary, Political and Economic Affairs, Mrs. Esuabana Nko, while unveiling the report reaffirmed the Federal Government’s commitment to support and deepen the implementation of the EITI in Nigeria.
According to the SGF, “President Bola Tinubu’s administration is fully committed to the fight against corruption in the extractive industry in particular and in other sectors of the economy.”
Chairman, Senate Committee on Oil and Gas Host Communities, Sen Benson Agadaga, reaffirmed the government’s commitment to implement the recommendations of the NEITI oil and gas report, saying:
“Be assured that the Federal Government will carefully study this important report and adopt it as a valuable working document as part of our overall reform programme for the oil and gas sector.”
The Chairman, House Committee on Petroleum Resources, (Downstream) Hon Ikeagwuonu Ugochinyere, pledged the support of his Committee to lay the report on the floor of the House and debate it extensively to ensure the implementation of the recommendations made therein, as enshrined in Sections 3 and 4 of the NEITI Act.
The Minister of Budget and National Economic Planning, Abubakar Atiku Bagudu, represented by the Permanent Secretary, Nebeolisa Anako, stated that the data generated by NEITI will help the ministry in its planning mandate for the country.
