The Nigeria Extractive Industries Transparency Initiative (NEITI) has said it is collaborating with the Economic and Financial Crime Commission (EFCC) to recover six billion dollars and another N66 billion oil debt owed the Federal government.
The Executive Secretary, NEITI, Orji Ogbonnnaya, stated this, when he appealed before the House of Representatives Committee on Petroleum Resources, Upstream, yesterday.
He explained stated that NEITI is committed to ensuring probity in the oil and gas as well as the mining sector.
According to him, some of the critical activities to be undertaken by the agency in the year 2025 include conducting industry report of the oil gas and mining sector.
He added that NEITI will also undertake fiscal allocation and statutory disbursement audit, research studies on the actual volume of Premium Motor Spirit (PMS) consumed in the country among others.
The NEITI boss explained that from its 2020 and 2021 report alone, over 3.7 billion dollars outstanding liabilities were recovered from companies operating in the oil and gas sector in the country.
Speaking on the 2025 budget proposal, he said NEITI got N6.5 billion for the 2025 financial year.
