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Oil Companies Owe FG $8.265bn In Unremitted Revenue – NEITI

Oil Companies Owe FG $8.265bn In Unremitted Revenue – NEITI

Forty-eight oil companies including the Nigerian National Petroleum Company Limited (NNPCL) are currently owing the Nigerian Government $8.265 billion in unremitted revenues. This was contained in an audit revealed report by the Nigeria Extractive Industries…

FG spent N13.7trn On petrol subsidy in 15 years –NEITI

FG spent N13.7trn On petrol subsidy in 15 years –NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that the Federal Government spent N13.7 trillion ($74.386 billion) on fuel subsidies on Premium Motor Spirit, (PMS) popularly called petrol or fuel, in 15 years. Executive…

Recover N2.659trn to federation account –NEITI

Recover N2.659trn to federation account –NEITI

…being debts owed by 77 oil, gas companies The Nigeria Extractive Industries Transparency Initiative (NEITI), has said the N2.659 trillion debt owed the federation by 77 oil and gas companies, could help boost the nation’s…

Volume of crude oil Nigeria produces unknown –NEITI

Volume of crude oil Nigeria produces unknown –NEITI

Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Orji Ogbonnaya Orji, has said no Nigerian has the information about the exact volume of crude oil produced in the country. Dr. Orji, who…

NEITI tasks oil firms on CSR, warns against corruption

NEITI tasks oil firms on CSR, warns against corruption

…says Nigeria risks suspension if Board is not constituted Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Ogbonnaya Orji, has called on companies in the oil and mining industry to pay more attention to…

NEITI: Developing countries lose $1trn annually to illicit financial flow

NEITI: Developing countries lose $1trn annually to illicit financial flow

The Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday said developing countries lose about $1 trillion annually to illicit financial flows due to secret ownership of companies. NEITI Executive Secretary, Dr. Ogbonnaya Orji, who made this…

Kalu congratulates new NEITI boss, Orji

Former Governor of Abia State and Chief Whip of the Senate, Dr. Orji Kalu, has expressed appreciation to President Muhammadu Buhari for appointing Dr. Orji Ogbonnaya Orji as the Executive Secretary of the Nigerian Extractive…