Published 2 days ago • loading... • Updated 2 days ago

Revenue-generating agencies owe FG N9.3tn – NEITI

The Nigeria Extractive Industries Transparency Initiative reported that revenue-generating agencies owe the government N9.3 trillion in unremitted liabilities, which would cover 72% of the projected budget deficit for 2025.
The owed amount exceeds the combined total budget for health, education, and national security, totaling N8.73 trillion, highlighting the urgent need for revenue mobilization, according to NEITI.
NEITI has recovered over $4.85 billion from the 2021 oil and gas report, with ongoing efforts to improve transparency and environmental governance amid ongoing divestments in the sector.
NEITI emphasizes the importance of transparency and adherence to environmental regulations in divestments, as unresolved issues affect host communities, with calls for collaboration with regulatory bodies regarding accountability.

Insights by Ground AI

Does this summary seem wrong?

8 Articles

All

Left

Center

Right

Premium Times Nigeria

Lean Left

NEITI plans review of $6.03bn divestments by IOCs, amid environmental issues, other concerns

NEITI said the oil and gas divestments were reshaping Nigeria’s industry, hence the need to ensure that the divestments adhered to due process. The post NEITI plans review of $6.03bn divestments by IOCs, amid environmental issues, other concerns appeared first on Premium Times Nigeria.

2 days ago·Abuja, Nigeria

Read Full Article

Punch Newspapers

Lean Left

Revenue-generating agencies owe FG N9.3tn – NEITI

The Nigeria Extractive Industries Transparency Initiative has revealed that revenue-generating agencies currently owe the government a total sum of N9.3tn in unremitted liabilities.

2 days ago

Read Full Article

Tekedia

NEITI Recovers $4.85bn from Oil Companies, Raises Concerns Over Unpaid Liabilities Amid Nigeria’s Budget Deficit

The Nigeria Extractive Industries Transparency Initiative (NEITI) said it has successfully recovered $4.85 billion from unpaid liabilities owed by oil and gas companies in Nigeria, marking a significant step in the agency’s ongoing efforts to promote transparency and accountability in the extractive sector. The recovered sum is part of a larger $8.26 billion in outstanding […] The post NEITI Recovers $4.85bn from Oil Companies, Raises Concerns O…

2 days ago

Read Full Article

EnviroNews Nigeria -

NEITI assures to monitor effective use of mineral resources revenues - EnviroNews - latest environment news, climate change, renewable energy

The Nigeria Extractive Industries Transparency Initiative (NEITI) has reaffirmed its unwavering commitment to ensuring that Nigeria’s oil, gas and mining revenues are managed for the benefit of all citizens. Dr Orji Ogbonnaya Orji, Executive Secretary, NEITI NEITI said it would deepen beneficial ownership disclosures to strengthen revenue tracking, contract transparency and ensure full implementation of extractive sector governance reforms. Dr …

2 days ago

Read Full Article

tv360nigeria.com

NEITI Recovers $4.85 Billion in Unpaid Liabilities from Oil and Gas Companies - TV360 Nigeria

The Nigeria Extractive Industries Transparency Initiative (NEITI) has successfully recovered $4.85 billion from oil and gas companies that had outstanding liabilities. This recovery is part of a larger $8.26 billion identified in NEITI’s 2021 oil and gas audit report. Speaking at a press conference in Abuja, NEITI’s Executive Secretary, Orji Ogbonnaya Orji, emphasized that this achievement underscores the agency’s commitment to fostering transp…

2 days ago

Read Full Article

Nairametrics

NEITI to review $6 billion oil asset sales by Shell, ExxonMobil, others in Nigeria

The Nigeria Extractive Industries Transparency Initiative (NEITI) has announced a review of divestments involving 26 oil blocks worth $6.03 billion by five International Oil Companies (IOCs), citing the need for transparency and due process in these transactions. The post NEITI to review $6 billion oil asset sales by Shell, ExxonMobil, others in Nigeria appeared first on Nairametrics.

2 days ago

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year