Stakeholders in the Nigerian oil and gas sector have called for coordinated security response, efficient governance structure, special courts and stringent sanction to secure oil assets and check crude oil theft in the country.
The Nigeria Extractive Industries Transparency Initiative (NEITI) says the finding and recommendations contained in its audit reports are currently being reviewed for implementation by a joint committee set up for this purpose between NEITI and the NNPC.
Nigeria Extractive Industries Transparency Initiative (NEITI)has urged the government to embrace oil fingerprinting technology, the comprehensive metering infrastructure of all facilities, and other creative strategies to combat the growing menace of theft of Nigeria’s crude oil and refined petroleum products.
The Nigeria Extractive Industries Transparency Initiative (NEITI) has welcomed with enthusiasm the passage of the Deep Offshore and Inland Basin Production Sharing Contract Amendment Bill by the National Assembly.
The solid minerals sector contributed N52.75 billion to federation revenue in 2017, a 21% increase on the N43.22 billion contributed by the sector in 2016. The information and data followed an independent reconciliation of company payments and government receipts in the sector by the Nigeria Extractive Industries Transparency Initiative (NEITI) in its latest report released in Abuja.