NNPC called to account for $17 bln

Nigeria

ABUJA, December 29, 2017 – The Nigerian Extractive Industries Transparency Initiative (NEITI) has called on the Nigerian National Petroleum Corporation (NNPC) to fully account for USD 16.8 billion in dividends collected for the Nigeria LNG project, local media reported Friday.

NEITI’s 2015 Oil and Gas Industry Audit Report also found that oil and gas revenues went down from USD 54.5 billion in 2014 to USD 24.8 billion in 2015, the Premium Times newspaper reported.

“The most critical takeaway is the need to expedite, expand and sustain reforms in this still critical sector of national life,” Waziri Adio, NEITI’s executive secretary, told journalists.

Read our latest insights on:

• Nigeria

Previous

USA liberalises fracking on federal lands

Next

Promising bid round bolsters interest in Indonesia