By Emmanuella Anokam Dr Tajudeen Abbas, Speaker, House of Representatives says it will equip the Nigeria Extractive Industries Transparency Initiative (NEITI) with stronger statutory powers, through legislative amendments of its Act. The speaker said the Act was geared towards enabling NEITI to carry out its task of ensuring transparency andContinue Reading
By Emmanuella Anokam The Federal Government says it will support and deepen the implementation of the Extractive Industries Transparency Initiative (EITI) in the management of Nigeria’s oil, gas and solid mineral resources. Sen. George Akume, Secretary to the Government of the Federation, gave the assurance on Monday in Abuja whileContinue Reading
By Emmanuella Anokam The Federal Government generated N193.59 billion from the solid minerals sector in 2021. The sector also contributed N814.59 billion between 2007 and 2021, with the 2021 earnings, the highest. The Nigeria Extractive Industries Transparency Initiative (NEITI) made this known on Monday in Abuja while unveiling its 2021Continue Reading
By Emmanuella Anokam The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has threatened to revoke the licences of oil operators or settlors who failed to remit the three per cent statutory fees to oil communities before September ending. The NUPRC management on Friday said its attention had been drawn to theContinue Reading
By Emmanuella Anokam The three tiers of government – the Federal, States and Local Government Councils (LGs), shared a total of N4.37 trillion from the Federation Account as statutory revenue allocations between January and June 2023. This is contained in the latest report by the Nigeria Extractive Industries Transparency InitiativeContinue Reading
By Usman Aliyu The Petroleum Trust Development Fund (PTDF) says it has partnered with some Nigerian universities on research into alternative source of energy called renewable energy. The PTDF’s Executive Secretary, Dr Bello Aliyu Gusau, disclosed this at a workshop on Wednesday held at University of Benin. The News AgencyContinue Reading
By Emmanuella Anokam Sen. Heineken Lokpobiri, Minister of State for Petroleum (Oil), and his counterpart, Mr Ekperikpe Ekpo, have urged the ministry’s staff to garner their support in realising President Bola Tinubu’s Renewed Hope Agenda. The duo, at a town hall meeting in Abuja, emphasised the need to reshape theContinue Reading
By Shedrack Frank The Joint Task Force Operation Delta Safe (OPDS), on Tuesday arrested an oil vessel MV Ofuoma and 10 crew members conveying alleged illegally refined petroleum products in Rivers. The Component Commander OPDS, Commodore John Siyanbade, who represented the OPDS Commander, Rear Adm. Olusegun Ferreira said MV OfuomaContinue Reading
By Diana Omueza A former presidential candidate of the Action Democratic Congress (ADC), Dumebi Kachikwu has commended the Federal Government’s momentum towards curbing crude oil theft in the southern part of the country. Kachikwu said this in a statement on Tuesday in Abuja. He said this while reacting to theContinue Reading
By Emmanuella Anokam An oil theft situation assessment delegation deployed in the Niger Delta by President Bola Tinubu discovered an illegal oil connection on Saturday. From the illegal connection discovered at Owaza in Abia, Nigeria loses an average of 7.2 million dollars monthly, the Nigerian National Petroleum Company Ltd. (NNPCContinue Reading
