Friday 22nd November 2019
Friday, 22nd of November 2019
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Tag Archives: NEITI

Transparency agency wants oil revenue savings transferred to Sovereign Wealth Fund

Waziri Adio

The Nigeria Extractive Industries Transparency Initiative (NEITI) has called for the transfer of all the country’s oil revenue savings into the custody of the Nigeria Sovereign Investment Authority (NSIA). In an Occasional Paper titled: “The case for a robust oil savings fund for Nigeria”, NEITI stated that its position was informed by the transparency rating of the NSIA by the ...

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NEITI makes clarifications on non-remittance of crude oil proceeds, NLNG dividends

Waziri Adio

The Nigeria Extractives Industries Transparency Initiative (NEITI) has said that there are misrepresentations and inaccuracies in some sections of the media arising from publications based on its recent presentation at a public hearing organised by the House of Representatives. The House of Representatives Ad Hoc Committee had invited NEITI to its public hearing held on the Thursday, June 8, 2017 ...

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Nigeria earned $590bn from petroleum sector in 15 years, says transparency agency

Waziri Adio

The Nigeria Extractive Industries Transparency Initiative (NEITI) has called for closer partnership with the civil society to enable it implement remedial issues contained in its reports of the oil and gas industry. The Executive Secretary of NEITI, Waziri Adio, made the call in Abuja at a special workshop by Publish What You Pay, a leading civil society organisation working in ...

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PIGB: NEITI lauds Senate, urges House for speedy action

Waziri Adio

The Nigeria Extractive Industries Transparency Initiative (NEITI) has welcomed what it describes as a “bold step” by the Senate to pass the Petroleum Industry Governance Bill (PIGB) on Thursday, May 25, 2017 in Abuja. The decision of the Senate to consider the bill as priority resulting in its passage is not only legendary, but historic given the challenges the bill ...

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Transparency agency begins audit of petroleum sector

Waziri Adio

The process for a comprehensive independent audit of the oil and gas sector by the Nigeria Extractive Industries Transparency Initiative (NEITI) has commenced. The independent audit, to be conducted in line with the principles and standards of the global Extractive Industries Transparency Initiative, will cover the period 2015 and 2016 respectively. Executive Secretary of NEITI, Waziri Adio, announced this recently ...

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Transparency agency urges government to revisit transfer of oil assets

Waziri Adio

The Nigeria Extractive Industries Transparency Initiative (NEITI) has called on the Federal Government to revisit and re-valuate the transfer of the Federation oil assets by the Nigeria National Petroleum Corporation (NNPC) to its subsidiary – the Nigeria Petroleum Development Company (NPDC). Executive Secretary of NEITI, Waziri Adio, made the call while answering questions from newsmen on the highlights of the ...

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NEITI urges government to investigate status of $15.8b NLNG dividends

Waziri Adio

The Nigeria Extractive Industries Transparency Initiative (NEITI) has called on the Federal Government to institute an independent investigation into the status and utilisation of all dividends and loan repayments by the NLNG to NNPC from 2000 to 2014. Executive Secretary of NEITI, Waziri Adio, made the call in Abuja while answering questions on NEITI’s policy brief that examined unremitted funds, ...

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NEITI commits to open government partnerships

Waziri Adio

The Nigeria Extractive Industries Transparency Initiative (NEITI) has identified Nigeria’s membership of Open Government Partnership as a timely platform to push for disclosure of beneficial owners of companies in the oil, gas and mining industries in the country. Executive Secretary of NEITI, Waziri Adio, stated this recently while addressing a Consultative Forum on Open Government Partnership (OGP) in Abuja. “Knowing ...

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NEITI seeks partnership with NDDC on anti-corruption

Waziri Adio

The Nigeria Extractive Industries Transparency  Initiative (NEITI) has said that it will partner with the Niger Delta Development Commission (NDDC) to enthrone transparency and accountability in the operations of the agency. Executive Secretary of NEITI, Waziri Adio, gave the assessment in his presentation to the Retreat of the Commission held in Port Harcourt, Rivers State. Mr. Adio noted that the ...

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