We’re Partnering EFCC On $6Bn, Other Debts Recovery Drive – NEITI Boss

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…As Reps Flaw Agency’s Proposed Budget For Meals In FY 2025

The Executive Secretary of Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Ogbonnnaya Orji, disclosed on Monday that said his agency was partnering the Economic and Financial Crime Commission (EFCC) in its efforts to recover USD6 billion and another N66 billion oil debt owed the  Federal Government by oil companies and traders.

Ogbonnaya, who made this disclosure when he appeared before the House of Representatives Committee  on Petroleum Resources, Upstream, restated the commitment of NEITI in ensuring transparency and strict compliance with laws guiding the operations in the nation’s oil and gas and  mining sector .

According to him, in furtherance of this commitment some of the critical activities to be undertaken by the agency this year include producing industry report of the oil gas and mining sector and undertaking fiscal allocation and statutory disbursements audit, and research studies on the actual volume of Premium Motor Spirit (PMS) consumed in the country, among others.

The NEITI boss told the lawmakers that from its 2020 and 2021 reports, over USD3.7 billion outstanding liabilities were recovered from companies operating in the oil and gas sector in the country.

Ogbonnaya said that based on the Appropriation Bill 2025 now being considered by the National Assembly for passage, the agency  had N6.5 billion as proposed budget, comprising N2.220 billion for personnel, N1.722 billion for overhead and N2.575 billion for capital projects.

Based on the budgetary provisions, the lawmakers slammed the NEITI boss for repeating the same items budgeted for in 2024 in the 2025 budgetary proposals, even as they listed some items as not justifiable in the face of current economic situation in the country.

For instance, in her contributions, Hon. Kafilat Ogbara queried why the agency would propose N32 million for meals in the fiscal year, pointing out that such an amount for meals in one year is outrageous.

The lawmaker rued: “Most of our MDAs should ensure that what they are bringing as budget proposal actually tally with the line item and the purpose why you want to use such funds.

“Let us not just see budget defence as the money is there and we should share it. So, let us see how to get our own share,” Ogbara added.

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