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NUPRC’s digital shift improves royalty tracking, compliance
Sopuruchi Onwuka Digitization of regulatory processes at the Nigerian Upstream Petroleum Regulatory Commission has significantly improved the tracking and enforcement of royalty payments, according to the Commission’s Chief Executive, Mrs. Oritsemeyiwa Eyesan. Eyesan said default rates on royalty payments were…
Nigerian economy defied COVID-19 to gross N14.38 Trn in 2020, 2021 __NEITI
Sopuruchi Onwuka Despite the deleterious impact of the novel coronavirus disease popularly called COVID which shut down the global economy and neutralized oil prices, public enterprises and taxes mopped in significant N14.38 trillion in 2020 and 2021. The revenue performance…
NEITI Report: NNPC claims N4.207 trn from FG
Sopuruchi Onwuka Following the accounting gaos in the operations of the petroleum industry in which the Nigerian National Petroleum Company (NNPC) Limited was listed as a bad debtor to the country, the national oil company has returned to claim whopping…
NNPC, Oil firms owe Nigeria N9.4 trn from 2021 ops
NNPC leads N6.6 trn secret debts; Withheld N2.33 trn from the federation account; Staked Nigeria’s crude oil for N11.5 trn loans Sopuruchi Onwuka Some 47 oil companies operating in Nigeria’s upstream petroleum industry and the Nigerian National Petroleum Company (NNPC)…
Profligacy: How states squandered the future
Some states cede 30% allocation to creditors Sopuruchi Onwuka Nigeria’s independent resource wealth auditor, the Nigerian Extractive Industries Transparency Initiative (NEITI), has declared that the 36 states of the federation conceded princely N129.6 billion or significant 15.8 percent of statutory…
NEITI calls for greater resource accountability
Sopuruchi Onwuka Resource watchdog, the Nigeria Extractive Industries Transparency Initiative (NEITI), has stressed the need for greater transparency and accountability in the management of the nation’s mineral resources. The Executive Secretary, Dr Orji Ogbonnaya Orji, declared at the 2022 Strategic…
