NEITI: FG, others Shared N3.95trn In 6months The federal, states and local governments shared N3.95 trillion from the Federation Account within the first half of this year the latest Nigeria Extractive Industries Transparency Initiative (NEITI) Review has shown. The disbursements made by the Federation Accounts Allocation...

200,000bpd NNPC Condensate Refineries Underway The Nigerian National Petroleum Corporation will establish two condensate refineries with a total refining capacity of 200,000 barrels per day at Western Forcados Area and Assah North Ohaji South (ANOH) Areas of Delta and Imo State respectively. Natural-gas condensate is a...

NNPC: N547bn Lost In 3years   The group monetary loss of the Nigerian National Petroleum Corporation for 2015, 2016 and 2017 is N547bn, the latest review of the oil firm’s financial and operations reports in the period has revealed. According to the review, which was done by...

NEITI - $16.8b NLNG Dividends Not Remitted To Federation Account   The Nigeria Extractive Industries Transparency Initiative (NEITI) Executive Secretary, Dr. Waziri Adio, yesterday insisted that the Nigerian Liquified Natural Gas (NLNG’s) $16.8billion accruable dividend between 2000 to 2015 was not remitted to the Federation Account. Describing...

NNPC To Drill More Wells In Gongola Basin     The Nigeria Extractive Industries Transparency Initiative (NEITI) has reiterated that the slow pace of reform in Nigeria’s oil and gas industry would continue to deny her potential benefits and investments that could have come to her, warning...

FG To Firms- "Cut Oil Production Cost Or Stop Producing"   The Federal Government on Tuesday charged crude oil-producing companies operating in Nigeria to either cut down the cost of producing the commodity or allow it to remain in the ground. The government stated that while the...