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Tag Archives: NEITI

Fuel Subsidy, Oil Theft Gulped N29tn – FG

The Federal Government, on Thursday, said the amount spent on subsidising Premium Motor Spirit, popularly called petrol, between 2005 and 2021 was N13tn, adding that the country lost N16.3tn to oil theft from 2009 to 2020. It disclosed this in Abuja through the Nigeria Extractive Industries Transparency Initiative at a …

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Nigeria Earned $741.48bn From Oil And Gas – NEITI

Nigeria earned 741.48 billion dollars from oil and gas between 1999 and 2020, the Nigeria Extractive Industries Transparency Initiative declared in Abuja on Tuesday. Its Executive Secretary, Dr Orji Ogbonnaya Orji, made the declaration at a stakeholders’ engagement forum on the implementation of the Petroleum Industry Act. He said NEITI …

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NNPC lost N418.97 billion in 21 months – Report

The group operations of the Nigerian National Petroleum Corporation, NNPC, recorded a cumulative loss of N411.1 billion in 21 months between January 2015 and September 2016, the Nigerian Extractive Industries Transparency Initiative, NEITI, has stated. In report, the agency said its review of the NNPC’s monthly financial and operational reports …

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