The Nigeria Extractive Industries Transparency Initiative (NEITI) is set to hold a symposium on the Petroleum Industry Governance Bill (PIGB) recently passed by the National Assembly.

The symposium, scheduled to hold in Abuja is designed to sensitize stakeholders on the provisions of the Bill. This is with a view to stimulating public interest ahead of presidential assent and implementation when it becomes law.

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The Extractive Industries Transparency Initiative (EITI) has commenced moves towards online transparency. The EITI sets 2018 as date for achieving this. The Executive Director of the EITI, Jonas Moberg, made this known at the end of the EITI International Board Meeting held in Oslo, Norway in February 2018.

Jonas explained that smarter use of technology provides opportunities to integrate reporting into government and company systems.

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The Executive Governor of Anambra State, Dr. Willie Obiano has commended NEITI for bringing its activities closer to the people of South East.

The Governor explained that this will provide the zone an opportunity to build strong partnership with NEITI. This is in efforts to exploit abundant minerals in the state and the South East Zone in general.

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The Nigeria Extractive Industries Transparency Initiative (NEITI) has expressed concerns over the slow pace of implementation of the recommendations of its reports.

The NEITI Executive Secretary, Waziri Adio, made this known in Abuja while receiving members of the House of Representatives’ Committee on Petroleum Upstream who were on a monitoring and oversight visit to the NEITI Secretariat.

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The Chairman, Senate Committee on Federal Character and Inter-Governmental Affairs Senator Tijjani Yahaya Kaura has applauded NEITI’s intervention in the management of Nigeria’s extractive sector revenues.

Senator Tijjani Yahaya Kaura stated this in Abuja when NEITI appeared before the Committee to defend its 2018 budget proposal.

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  • VAT disbursements on the increase
  • Revenues projected to increase in 2018
  • Positive signals on non-oil sectors

The Federation Account Allocation Committee (FAAC) disbursed a total sum of N6.418 trillion in 2017. This showed an increase of 25.8% and 6.8% when compared to total disbursements of N5.1 trillion and N6.011 trillion in 2016 and 2015 respectively.

A breakdown of the amount disbursed in 2017 showed that the Federal Government received N2.564 trillion; the 36 States got N1.859 trillion while the 774 local governments shared N1.502 trillion.

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