News

The Nigerian Extractive Industry Transparency Initiative (NEITI) has been commended for setting and sustaining high transparency and accountability standards in the country’s oil, gas and mining sectors.

A beneficial owner’s register of companies operating in the extractive industries will soon be ready, the Nigeria Extractive Industries Transparency Initiative has stated.

The Nigeria Extractive Industries Transparency Initiative (NEITI) has welcomed with enthusiasm the appointment of Mr. Mele Kolo Kyari as the incoming GMD of NNPC by President Muhammadu Buhari. 

Civil Society Organizations have called on state governments that are benefiting from the 13% derivation to channel the fund strictly for the development of host communities where extractions of oil, gas and mining take place.

“You cannot speak that which you do not know. You cannot share that which you do not have. And you cannot give that which you do not possess. To give it and to share it and for it to be effective, you first need to have it. Good communication starts with good preparation” Jim Rohn.

The EITI Global Conference was held at the OECD Conference Centre in Paris, France with delegates from the 52 member countries and other special guest, world leaders from around the world in attendance.

• 36 states received N3.9 trillion revenues in 2018
• Lagos’ 2018 revenue higher than revenue of each of three zones
• SS and SW states had 55% of 2018 states’ reenues