The Extractive Industries Transparency Initiative (EITI), an organization championing the cause of transparency and accountability in the global extractive industry, on Monday lauded the Nigerian state-owned oil company, the Nigerian National Petroleum Corporation (NNPC) on timely publication of its financial and other operations’ reports. It therefore urged other public companies in the country to emulate […]
The Nigeria Extractive Industries Transparency Initiative (NEITI) has reported that no state in the country can totally finance its annual budget with its Internally Generated Revenue (IGR) and resources received from the Federation Accounts Allocation Committee (FAAC). The agency, in its latest edition of its quarterly magazine, noted that despite the substantial distributions to the […]
The Nigeria Extractive Industries Transparency Initiative (NEITI), on Tuesday reported that the solid minerals sector of the economy generated N43.22 billion into the Federation Account in 2016. The transparency agency, in its 2016 audit report of the solid minerals sector, hinted that taxes collected by the Federal Inland Revenue Service (FIRS) accounted for N40.38 billion or 93.43 percent of […]
The Nigerian Extractive Industries Transparency Initiative (NEITI) on Monday reported that the Nigerian National Petroleum Corporation, NNPC, its subsidiary, Nigerian Petroleum Development Company, and other companies in the oil and gas sector were yet to remit $22.06 billion and N481.75 billion to the Federation Account. The agency in its latest report on the summary of […]