The diverse and divergent views expressed by experts at the just concluded Nigerian International Energy Summit (NIES2022) in Abuja, with the theme “Strategies for Confronting the Energy Transition”, vividly exposed the uncertain future of crude oil exploration and production in Nigeria. One thing that became glaringly obvious from all speakers was the move by what […]
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The internally generated revenue (IGR) of Lagos state rose by approximately N33 billion from 2015 to 2016, beating 33 states put together. According to a report by the Nigeria Extractive Industries Transparency Initiative (NEITI), the state recorded an IGR of N301.19 billion, a rise of N32.99 billion in one year. The total IGR from 33 […]
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The Nigerian National Petroleum Corporation (NNPC) withheld 12 percent more money in six months under President Muhammadu Buhari than it did with his predecessor from 2013 to 2014. According to a report by the National Resource Governance Institute (NGRI), an international non-profit policy institute with focus on oil, gas and minerals, NNPC withheld more in the last six […]
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The Nigeria Extractive Industries Transparency Initiative, NEITI, has said that more than $500 million has been lost by the Nigerian government over fraudulent activities in the management of crude oil swaps over the years. NEITI said its audit of the oil and gas sector for 2012 showed that the nation lost about $100 million in […]
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