Tag: Dr Orji Ogbonnaya Orji

Oil Firms Evade $6.4bn Taxes Payment To Nigeria, NEITI Kicks

Ganiyu Amodu

Why we threatened action against oil and gas companies that failed to remit outstanding taxes, royalties and levies to the Federation Account – Industry Transparency Initiative Boss   The Nigeria Extractive Industries Transparency Initiative, NEITI, has threatened action against oil and gas companies that failed to remit outstanding taxes, royalties and levies to the Federation Account amounting to about $6.4 billion (N2.66 trillion). NEITI noted that while a large portion of the amount has been paid by defaulting companies, it warned that it will instigate action against those that have…

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Oil Firms’ Debts To Nigeria Hit N1.32trn in 2020 – NEITI

Efe Wellington

Nigeria earned $20.43 billion from the sector in 2020, a decline of 40 per cent compared to $34.22 billion realised in 2019. The Nigeria Extractive Industries Transparency Initiative (NEITI) has said that oil and gas companies liabilities to the Federation Accounts as at December 31, 2020 was N1.32 trillion. Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, made this known on Monday in Abuja at the public presentation of reports on Oil, Gas and Mining as well as Fiscal Allocation and Statutory Disbursement. Orji, while providing highlights on the 2020…

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77 Oil Firms’ Tax, Royalty Debts to Nigerian Govt hit $6.48bn – NEITI

Efe Wellington

The debts amounting N2.659 trillion could have constructed all the roads, built all installations, and covered the entire capital budget of the Nigeria government in 2020   77 oil and gas companies are indebted to the Nigerian government with a whooping $6.48billion equivalent to N2.659 trillion, the Nigeria Extractive Industries Transparency Initiative (NEITI) has declared. Platforms Africa reports that the Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji, who said this during a media briefing on the status of EITI implementation in Nigeria and the agency’s mid-year scorecard in the…

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