The Federation Allocation Account Committee (FAAC) disbursed N8.5 trillion to the three tiers of government and others, the first time since 2014, that disbursements would exceed N2 trillion in three consecutive quarters.
The discussion on how to sustain the ongoing war against corruption should continue to top agenda of public debate towards the forthcoming elections because corruption remains a central problem in Nigeria.
The Office of the Secretary to the Government of the Federation (OAGF) has recognized and honored two members of staff of the Nigeria Extractive Industries Transparency Initiative (NEITI) with merit awards.
The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Mr. Waziri Adio was named winner of the 2018 Anti-Corruption Defender Award by the Wole Soyinka Centre for Investigative Journalism (WSCIJ).
Report highlights steady decline in revenues: 2016 revenue 31% lower than 2015’s and 75% lower than 2011’s
PSCs overtook JVs in 2016 as Nigeria’s leading production arrangement
Abuja, 21st December, 2018 - The latest report of the Nigeria Extractive Industries Transparency Initiative (NEITI) reveals that the total financial flows from Nigeria’s oil and gas sector slumped to $17.05 billion in 2016, a 31% decline on the $24.79 billion generated in 2015, and a 75% plunge on the sector’s peak earnings of $68.44 billion generated in 2011. In addition, the 2016 figure is the lowest in ten years and the fifth lowest in the 18 years covered by NEITI’s audit reports so far (1999 to 2016).
Abuja, November 18, 2018. Revenue disbursements by the Federation Account Allocation Committee (FAAC) to the three tiers of government has witnessed a steady increase in three consecutive quarters of this year with N2.28 trillion shared in Q3 of 2018.