$22.7 bln unaccounted for by NNPC: NEITI

ABUJA, March 12, 2018 – The Nigeria Extractive Industries Transparency Initiative (NEITI) has said the Nigerian National Petroleum Corporation (NNPC) has not accounted for at least USD 22.7 billion in revenue, international media reported Monday.

Waziri Adio, the executive secretary of NEITI, said other operators had co-operated with the agency.

“The sector is no longer the black hole that it once was, but we can still use more transparency,” Adio told Bloomberg. “Things are opening up. There could be more in the area of contracts, ownership and expenditure transparency, but definitely there is some progress.”

The NEITI’s reports for 2016 and 2017 are scheduled to be presented to the public in July and November.

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