The Nigeria Extractive Industries Transparency Initiative (NEITI) has lauded the federal government for terminating the cash call payments on Joint Venture (JV) agreements with major international oil companies (IOCs) saying N7.5 trillion was spent on financing the arrangements in five years. In a statement by...

And, sadly, it came to pass. It is well predicted that most countries blessed with natural resources, even in the best of times, perform worse economically than countries not so endowed; and that, when times are tough, countries that are dependent on natural resources...

The country is losing about $200bn as a result of its failure to pass the Petroleum Industry Bill as an enabling law for the oil and gas industry, the Nigeria Extractive Industries Transparency Initiative has said. NEITI, in its latest policy brief entitled, ‘The urgency...

The Executive Secretary, Nigerian Extractive Industries Transparency Initiative (NEITI), Mr. Waziri Adio has said that there was no reason for Nigeria to have 110 million people living in poverty. "With the kind of money Nigeria made from oil in the past decades, there is no...

Recently the 2013 Audit Report of the Nigeria Extractive Industries Transparency Initiative (NEITI) on Oil, Gas and Solid Minerals was made public. The Executive Secretary of NEITI, Mr. Waziri Adio granted an interview to the Economic Confidential on issues arising from the report as...

The Federal Government has lost approximately $518 million to oil swap and Offshore Processing Agreements (OPA) in 2013 due to inefficiencies by the Nigerian National Petroleum Corporation (NNPC) and its subsidiaries, the Economic Confidential can authoritatively report. The Economic and Financial Crimes Commission (EFCC) would...