The Nigeria Extractive Industries Transparency Initiative (NEITI) has said a total of $6.1 billion is owed by the oil and gas industry to the federation as outstanding liabilities as of August 2024. These are made up of outstanding royalties, taxes, rents and other collectible revenues due to be collected into government coffers, NEITI said in a report it presented to …

Executive Secretary/CEO of Nigeria Extractive Industries Transparency Initiative (NEITI), Ogbonnaya Orji, has said Nigeria lost over N16.25 trillion due to oil theft in the country. Orji in a report to the Chairman of House Committee on Public Accounts, Bamidele Salam, during an interactive session in Abuja, also claimed that $74.386 billion was spent on fuel subsidy by successive administrations since …