The House of Representatives will commence an investigative hearing on today (March 3, 2025), to examine outstanding debts owed by several oil companies to the Federation Account, totaling approximately ¦ 9.4 trillion. In a statement, House Spokesman Akintunde Rotimi said…
The Nigeria Extractive Industries Transparency Initiative (NEITI) has urged oil companies operating in Nigeria to prioritise the development of their host communities. NEITI’s Executive Secretary, Dr Orji Ogbonnaya Orji, made the call at the official presentation of a Policy Brief…
By Akpandem James In recent years, international oil companies (IOCs) operating in Africa have been moving to sell off some of their assets and relocate to more profitable, environmentally and socially friendly operational landscapes. While some considered moving from one…
The latest report by the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed a 14 percent decline in petrol importation for 2023. A total of 20.28 billion litres of premium motor spirit (PMS) were imported this year, down from 23.54…
The House of Representatives Joint Committee on Finance and Petroleum Resources (Upstream) on Saturday, vowed to deal with oil companies which fail to participate in the ongoing investigation of the loss of $60b inflated cash calls by the Nigerian National…
President Bola Tinubu, on Tuesday in Abuja, said the three Executive Orders on oil and gas reforms, which he signed, will ensure that no oil company faces undue challenges in the country. The President made the affirmation during a meeting…
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr Simbi Wabote, has expressed concerns about the impact of the divestment of onshore oil and gas assets by International Oil Companies (IOCs) on the federal government’s tax…
…80% of the financial liabilities owed by NNPCL …Nigeria loses 68.47 million barrels of crude oil to measurement error, theft, sabotage The total unremitted revenues to the Federation by some relevant government agencies and companies in the oil and gas…
…As NUPRC vows to sanction erring companies Oil companies have refused to abide by the provisions of the Host Community Regulation and Petroleum Industry Act threaten Nigeria’s oil production output, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said. The…
Oilwatch Africa has expressed worry over the action of oil companies operating in Nigeria in particular and Africa in general. It called on the Nigerian government to take control and ensure proper clean-up of polluted lands in the country and…
