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Tag: NEITI

NEITI to release old data, says global body
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Subsidy: NEITI faults fuel consumption data, begins investigation

The Nigeria Extractive Industries Transparency Initiative has stated that the high PMS consumption data being given by some government entities were false and that research to ascertain Nigeria’s actual fuel consumption had been launched. The Punch reported that the Executive Secretary of NEITI, Ogbonnaya Orji, said this on Tuesday in Abuja while speaking to the press on the sidelines of […]

NEITI to release old data, says global body
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Nigeria spent $74bn on fuel subsidies 16 years – NEITI

The Nigeria Extractive Industries Transparency Initiative has revealed that Nigeria spent $74.39 billion, or N13.69 trillion, on fuel subsidies between 2005 and 2021. According to Nairametrics, they commended President Bola Tinubu’s subsidy removal, stating that it is a good thing as they urged him to put the conclusions and suggestions from the NEITI reports into practice. This information was […]

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How Nigeria lost N16.25tn crude in 12 years – NEITI

Nigeria Extractive Industries Transparency Initiative, has revealed that the country lost 619.7 million barrels of crude oil worth $46.16 billion or N16.25 trillion in 12 years, from 2009 to 2020. It made this disclosure in a statement released on Thursday night by its head of communications and advocacy, Obiageli Onuorah. The Federal Government’s decision to […]

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