The Federation Account Allocation Committee (FAAC) disbursed N1.938 trillion in the first quarter of 2018. The amount shared represented an increase of 37.3% when compared with N1.411 trillion shared during the same period in 2017 and 71.1% of the N1.132 trillion shared in the same quarter of 2016.

 

A breakdown of the FAAC allocations shows that the Federal Government received N812.8 billion, the 36 states got N683.4 billion, while N393.3billion went to the 774 Local Governments. A further breakdown shows that N655.2 billion was disbursed by FAAC in January, N635.6 billion in February, and N647.4 billion in March this year.

The information is contained in the latest edition of the NEITI Quarterly Review by the Nigeria Extractive Industries Transparency Initiative (NEITI).

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Encomiums from around the EITI Community have trailed the coming exit of Jonas Moberg, the Executive Director and Head of EITI Secretariat, as he takes a bow after over a decade of meritorious service to the global EITI.

The news of his exit was received in NEITI with mixed feelings as a result of his valued contributions to EITI Implementation in Nigeria as Head of International Secretariat, based in Oslo, Norway.

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The Nigeria Extractive Industries Transparency Initiative (NEITI) has expressed regrets over the death of the Chairman, Punch Newspapers, Mr. Gbadebowale Aboderin. NEITI says the death is a major setback in the promotion of corporate governance and professional ethics in the media profession in Nigeria.

In a condolence message to the Managing Director/Editor in Chief of Punch Newspapers Mr Ademola Osinubi on the death of the media executive, the NEITI Executive Secretary, Mr. Waziri Adio described Mr. Aboderin, as a reliable ally and champion on transparency, accountability and good governance issues.

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The Nigeria Extractive Industries Transparency Initiative (NEITI) with support from Trust Africa held training on Advanced Media Relations and Advocacy for its staff and stakeholders in Abuja. The event took place from 26th – 27th, April 2018.

The Executive Secretary of NEITI, Mr. Waziri Adio, in his remarks, welcomed all participants, thanked Trust Africa for providing the support in this critical sector of media relations and advocacy, and stressed the importance of training for all stakeholders in the EITI process.

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The implementation of Extractive Industries Transparency Initiative (EITI) in Nigeria is a veritable tool for managing conflicts and insecurity in extractive communities.

Mr. Waziri Adio, the Executive Secretary of the Nigeria Extractive Industries Initiative (NEITI) stated this while delivering a speech at the 7th Sustainability in the Extractive Industries (SITEI) Conference recently held in Abuja.

‘‘One of the tools for managing conflicts, crisis and insecurity in the extractive sector is the EITI.When you do things in the open, the possibility of conflicts or disagreements is minimized”, Mr Adio noted.

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The civil society and media stakeholders have urged the Federal Government to sanction defaulting agencies for failure to implement remedial issues contained in the audit reports conducted by theNigeria Extractive Industries Transparency Initiative (NEITI).

This was part of the consensus among participants at a civil society/media workshop on remedial issues in the reports, held recently in Abuja.

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The Nigeria Extractive Industries Transparency Initiative (NEITI) has once again drawn the attention of the Federal Government to the urgent need to put in place the necessary laws required to fix the numerous governance problems confronting the oil and gas sector.

The Executive Secretary of NEITI, Mr. Waziri Adio stated this in Abuja at the opening of a Symposium to set the agenda on the Petroleum Industry Governance Bill (PIGB) recently passed by the two chambers of the National Assembly. Mr. Adio identified the protracted delays in passing these laws as responsible for the uncertainties and stagnation of investment opportunities in the sector.

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