• Seeks collaboration with NEITI

The Nigeria Extractive Industries Transparency Initiative has expressed its readiness to collaborate with the International Centre for Investigative Reporting (ICIR) for reportage of issues in the extractive sector.

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The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Socio-Economic Rights & Accountability Project (SERAP) a non-profit, legal and advocacy organisation have agreed to partner on information sharing in an effort to tackle corruption in the country.

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  • Combined Net FAAC Allocations for 2017 and 2018 Inadequate to Fund 2019 Budgets of 35 states
  • Total Revenues to States for 2017 & 2018 Inadequate to Fund 2019 Budgets 0f 28 States.
  • Disbursements Dropped Below N2trillion First Time Since Q2 2018.

The fall in oil prices slightly affected government earnings in the first quarter of 2019, as Federation Allocation Account Committee (FAAC) disbursed N1.929trillion between January and March this year. The figure indicates a 0.45% decline from the N1.938trilion disbursed for the same period in 2018, but 36.7% higher than the N1.411trillion disbursed in the corresponding period in 2017.

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Board of the global Extractive Industries Transparency Initiative (EITI) has adjudged Nigeria as having made ‘Satisfactory Progress’ in the implementation of its principles in the nation’s extractive sector.

The decision was taken and announced at the 42nd Board meeting in Kyiv, Ukraine recently.

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The Nigeria Extractive Industries transparency Initiative (NEITI) has urged gender based CSOs and women in the Niger Delta to be active participants in the campaign for beneficial ownership disclosure in the extractive sector.

The Assistant Director Communications & Advocacy NEITI, Obiageli Onourah who represented the Executive Secretary made this call at a 2-day training workshop on Beneficial Ownership disclosure organized for women CSOs in the Niger Delta, held in Port Harcourt, River State.

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Stakeholders working in the extractive sector have expressed delight over the Extractive Industries Transparency Initiative (EITI) validation report on Nigeria. In the report, Nigeria was adjudged as having made ‘Satisfactory Progress’ in the implementation of EITI standard by the EITI Board at its February 2019 meeting which took place in kyiv, Ukraine.

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