Tuesday, August 11, 2020

Tag "NEITI"

    Waziri Adio: Oil sector needs to be a real blessing — not needless curse

Waziri Adio: Oil sector needs to be a real blessing — not needless curse

Waziri Adio, executive secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), says implementation of laws will reposition and transport the oil and gas sector to become a real blessing and not just a "needless curse". Speaking at a symposium on petroleum industry governance bill (PIGB) in Abuja, Adio commended the national assembly for passing PIGB. He said Nigerians will be deluded to think the job [...]

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    PIGB will check outright stealing in oil sector, says NEITI

PIGB will check outright stealing in oil sector, says NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI) says the passage of the petroleum industry governance bill (PIGB) will bring about professionalism and accountability in the oil sector. In a statement on Sunday, Orji Ogbonnaya Orji, its director of communications and advocacy, the organisation commended the senate and the house of representatives for passing the bill into law. Prior to its passage, the [...]

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    Waziri Adio to legislators: You can pass all four PIBs before 2019… do it for Nigeria

Waziri Adio to legislators: You can pass all four PIBs before 2019… do it for Nigeria

Waziri Adio, executive secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), has urged the national assembly to pass all four subsets of the Petroleum Industry Bill (PIB) before 2019 elections. Adio in a series of tweets said the Petroleum Industry Governance Bill (PIGB), a part of the PIB which passed third reading in the house of representatives on Wednesday, was the easiest [...]

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    Many geologists are riding ‘Okada’, says UI prof

Many geologists are riding ‘Okada’, says UI prof

Olugbenga Okunlola, a professor of geology at the University of Ibadan, says most of the geologists in the country are not practising what they studied in school. Okunlola, a board member of the Nigeria Extractive Industries Transparency Initiative (NEITI),  made the statement at the south-west zonal stakeholders' workshop of the agency in Abeokuta. He went down memory lane, tracing the origin of [...]

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Oil sector graft: Senate beams searchlight into corruption allegations

The Nigerian senate has commissioned an ad-hoc committee to carry out complete investigation in the face of corruption allegations against Maikanti Baru, the group managing director (GMD) of Nigeria National Petroleum Corporation (NNPC).‎ Aliyu Wamako, a senator of the federal republic of Nigeria will chair the committee which will include Tayo Alasoadura, Akpan Bassey, Samuel Anyanwu, Ahmed Ogembe and four others [...]

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    We need to delink our economic fortunes from the fate of oil prices, says Adio

We need to delink our economic fortunes from the fate of oil prices, says Adio

Waziri Adio, executive secretary of the Nigerian Extractive Industries Transparency Initiative (NEITI), has advised the federal government to delink the country's economic fortunes "from the fate of oil prices". He said the days of oil were numbered, appealing to the government to act on time. Adio said this statement at the third edition of the annual lecture of the Dauda Adegbenro Foundation, which held [...]

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    Ajimobi, Amosun to grace Adegbenro’s lecture on extractive industries

Ajimobi, Amosun to grace Adegbenro’s lecture on extractive industries

Abiola Ajimobi, governor of Oyo state and Ibikunle Amosun, his Ogun state state counterpart, are among the top government officials and key players in the private sector expected to attend the third annual programme of Dauda Adegbenro Foundation. The lecture, themed 'Transparency in the Extractive Industries: Driving wealth creation and sustainable revenue as solution to economic recession', is scheduled to hold on [...]

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    NNPC GMD: We don’t see a penny from crude sales

NNPC GMD: We don’t see a penny from crude sales

Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation (NNPC), says the oil firm does not “see a penny” from the sale of crude oil. Baru said this in response to some critical reports, especially from the Nigeria Extractive Industries Transparency Initiative (NEITI). In its March 2017 policy brief, NEITI said by its own calculations, the total unremitted revenues to [...]

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    We prefer spending to saving, says Adio

We prefer spending to saving, says Adio

Waziri Adio, the executive secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), says Nigeria prefer spending crude oil money instead of saving. Speaking on Arise Television, Adio said Nigeria prefer spending than saving. "The problem is that we save and spend, rather than save and keep," he said. [...]

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    Adio: Angola saves 100,000 barrels worth of oil daily — Nigeria can do better

Adio: Angola saves 100,000 barrels worth of oil daily — Nigeria can do better

Waziri Adio, the executive secretary of the Nigeria Extractive Industry Transparency Initiative (NEITI), says the country should amend its constitution to allow for savings in and out the time of plenty. Speaking in an interview with Arise TV, Adio said the law of the land does not allow for savings, as much as it should, stating that Angola saves the equivalent [...]

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    NEITI: All of Nigeria’s oil savings can’t fund 20% of 2017 budget

NEITI: All of Nigeria’s oil savings can’t fund 20% of 2017 budget

Nigeria Extractive Industry Transparency Initiative (NEITI) says all of the country's oil savings since the inception of its savings history cannot fund 20% of 2017 budget. In its second occasional paper series unveiled on Tuesday by Waziri Adio, its executive secretary, NEITI, said: "Nigeria has about three decades of experience in implementing different oil revenue funds. However, attempts at oil revenue [...]

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    NEITI: Nigeria losing $600m annually due to loopholes in lifting of crude oil

NEITI: Nigeria losing $600m annually due to loopholes in lifting of crude oil

The Nigerian Extractive Industry Transparency Initiative (NEITI) has said the country is losing $600 million annually to leakages in the process of lifting crude oil. The agency on Wednesday urged the house of representatives to probe the alleged loss of $15.9 billion dividends accrued to the federal government. Waziri Adio, the executive secretary, made the call at the ongoing investigative hearing on [...]

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    REVEALED: Nigeria earned $592bn from oil sector between 1999 and 2014

REVEALED: Nigeria earned $592bn from oil sector between 1999 and 2014

Waziri Adio, executive secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), says the country earned $592bn from the oil and gas sector from 1999 to 2014 but there is a little change in the standard of living of citizens. Adio said this in a statement issued by Orji Ogbonnaya, NEITI spokesman. Speaking at a workshop organised by Publish What You Pay, [...]

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    NEITI: Lagos, Delta, Osun lead as debt burden of 36 states rises to N3.3trn

NEITI: Lagos, Delta, Osun lead as debt burden of 36 states rises to N3.3trn

The Nigeria Extractive Industries Transparency Initiative (NEITI) says that the debt burden of the 36 states of the federation rose to over N3.342 trillion as of 2016. Lagos, Delta, Osun and Akwa Ibom topped the debt chart, with a total debt profile of N1.262 trillion representing about 38% of debts owed by the 36 states of the federation. The break down shows [...]

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    Lagos IGR rises by N32.99bn — higher than 33 states put together

Lagos IGR rises by N32.99bn — higher than 33 states put together

The internally generated revenue (IGR) of Lagos state rose by approximately N33 billion from 2015 to 2016, beating 33 states put together. According to a report by the Nigeria Extractive Industries Transparency Initiative (NEITI), the state recorded an IGR of N301.19 billion, a rise of N32.99 billion in one year. The total IGR from 33 states of the federation, excluding Delta, Ogun [...]

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