NEITI

Nigeria: “Govt lost $28bn to outdated crude oil Production and Shairng Contracts” – NEITI

Posted on March 12, 2019March 12, 2019 by Mozambique Resources Post

For a period spanning over ten years, 2008 to 2017, Nigeria lost as much as $28 billion from crude oil due to outdated Production Sharing Contracts (PSCs) it signed with international oil companies (IOCs) operating in the country, the Nigeria Extractive Industries Transparency Initiative (NEITI), has disclosed.

Transparency: NEITI Questions NNPC Documentation

Posted on January 29, 2018January 29, 2018 by Mozambique Resources Post

The Nigeria Extractive Industries Transparency Initiative (NEITI) has said that NNPC has yet to provide documentation showing that the presidency authorized the firm to withhold and disburse funds paid to it as dividends by the Nigeria Liquefied Natural Gas (NLNG) Ltd. This is based on NEITI’s audit of NNPC in 2015.