OAGF, NEITI Partner On Tracking Oil, Gas Revenue       The Office of the Accountant General of the Federation (OAGF) said it will support the Nigeria Extractive Industries Transparency Initiative (NEITI) in tracking oil and gas revenue that accrue to the Federal Government to ensure appropriate remittances. The...

Oil, Gas Export Revenue Dipped By $2.23bn In 2020 – NNPC       The total revenue generated by the Nigerian National Petroleum Corporation from crude oil and gas exports plunged by 45.98 per cent last year amid the COVID-19 induced collapse in price and demand. Nigeria’s revenue from...

Over 43 Oil, Gas Cases Waiting To Be Resolved – DPR       The Department of Petroleum Resources has said over 43 cases in the Nigerian oil and gas industry are waiting to be looked into by the newly inaugurated Alternative Dispute Resolution Centre. Its Director/Chief Executive Officer,...

FG Insists PIB'll Resolve Oil Sector’s 70-Year Underdevelopment       The federal government has said that when passed, the Petroleum Industry Bill (PIB) will resolve most of the knotty issues that have hindered the development of the oil and gas sector in the country since the 50s. Speaking...

Oil Firms’ Income Tax Payments Decline To N47.74bn       The company income tax paid by oil and gas companies to the Federal Government fell by N4.94bn or 10.25 per cent in 2020, official figures have shown. An analysis of data collated from the National Bureau of Statistics...

PIB: Sylva Faults Host Communities’ 10% Trust Fund Demand       The Minister of State for Petroleum Resources, Timipre Sylva, has faulted the position of host communities who are insisting on collecting 10 per cent of the operating expenditure of the oil firms to set up a...