‘NNPC, NPDC have violated due process’
According to a new report by the Nigeria Extractive Industries Transparency Initiative, (NEITI) the State Oil Company and its subsidiary, the NDPC, owe the federation more than 20 billion dollars.
NEITI urges prosecution of persons linked with non-remittance of N7.2trillion oil fund
A new policy brief released by NEITI yesterday stated that the Nigerian National Petroleum Corporation (NNPC) owes the federation account about N7.2trillion over a 14-year period.
Non-oil sector as a game changer in Nigeria
Efforts geared towards diversifying the economy, reviving the agricultural sector and exploring the non-oil sector of the economy have been on for decades, since the fortunes of oil in the global market took a turn for the worse in the 80s.
NEITI worried about states’ debt profiles
This is followed by Delta State with N331.95 billion debt against N142.77billion of its revenue. Osun and Akwa Ibom states came third and fourth with N165.91 billion and N161.23 billion respectively.
NEITI to establish open contracting data standard platform
The Nigeria Extractive Industries Transparency Initiative (NEITI) has unveiled plans to establish an open contracting data standard platform for procurement of goods and services.
NEITI unveils roadmap to accountability, transparency
The Nigeria Extractive Industries Transparency Initiative (NEITI) has unveiled two documents designed to enhance transparency and accountability in the extractive industries.
Government loses N1.2tr tax revenue to crude oil price dispute
Over the years, the IOCs have used the Tax Appeal Tribunal (TAT), which has the final say on any tax issue, to avert the payment of huge revenue accruable to the Federal Government from oil production.
NEITI urges NPDC to remit $4.9b to treasury
The Nigerian Extractive Industry Transparency International (NEITI) has urged the Nigeria Petroleum Development Company (NPDC) to settle $4.977 billion outstanding liabilities to the Federal Government.