The Nigeria Extractive Industries Transparency Initiative (NEITI), has reported that Federation Accounts Allocation Committee (FAAC) shared N3.879 trillion to the federal states, local governments, and other agencies in the first half of this year, It reported that from January to May 2020, actual government revenue was N1.62trn, representing 62 per cent of the expected pro-rata […]
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), 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 […]
The Extractive Industries Transparency Initiative (NEITI) on Monday reported that the three tiers of government in the country shared a total sum of N3.95 trillion from the Federation Account in the first half of this year. NEITI, in its latest Quarterly Review Report, indicated that the figures represented an increase of 41 percent over the […]
The Nigeria Extractive Industries Transparency Initiative (NEITI) said that it had assisted the Federal Government, through regular publication of credible and accessible critical data to recover, over $3 billion revenue from oil and gas companies operating in the country. The Executive Secretary of the organization, Waziri Adio, disclosed this in his speech at the International […]
The Nigeria Extractive Industries Transparency Initiative (NEITI) on Sunday accused oil and gas companies of fleecing Nigeria of taxes, royalties and other accruable revenues following government’s failure to review the Production Sharing Contracts (PSC) agreements with them. NEITI, in a statement in Abuja, disclosed that in the early years after the signing of the PSCs, […]