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Fed Govt Slightly Reverse The Price of PMS

Queue at the filing station  The President,  Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr  Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
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NEITI/ National Assembly recover N2.6trn for Govt


Above: NEITI  logo       Below: Ogbonanya


By Akinola Ajibade


The Nigerian Exractive Industries Transparency Initiative (NEITI) and the National Assembly have  helped Federal Government to recover N2.6trillion from oil and gas companies, its Executive Secretary, Dr Orji Ogbonanya,

He said this at a Civil Society Engagement on Extractive Industries Transparency Initiative (EITI) Validation programme in Abuja.

He, however, noted that $2.6 billion remain outstanding as at March 2022, adding that NEITI is prepared to collaborate with Economic and Financial Crimes Commission (EFCC) and other anti graft agencies to ensure the government recover the rest of the funds.

The agency, Ogbonanya, swung into action to prepare Nigeria for global governance assessment exercise in oil, gas and mining sectors come February 2023.

According to him, the validation Committee is made up of the NSWG with the Secretariat currently providing technical support, while Shadow Validation Committee is expected to critically review progress made by the Validation Committee, identifying gaps and advising on maximizing opportunities.

He said: “To ensure adequate preparation and stakeholders feedbacks beyond, NEITI is commenced national sensitization to deepen stakeholders understanding of EITI process and validation exercise at sub-national level.

“Nigeria through NEITI is therefore ready to show case outstanding accomplishments which the EITI implementation has made possible in Nigeria’s extractive sector reform.We call these achievements EITI/NEITI milestones in Nigeria”.

Others, NEITI's Boss, said include PIA Presidential Steering Committee on PIA implementation; The unbundling of NNPC; NNPC becoming EITI supporting company NNPC is publishing Annual Financial Reports; Emergence of two strong Regulators – FIRS, NUPRC, Nigeria Midstream and Downstream regulatory Authority – (NMDRA)strong civil society cooperation and partnership based on MoU among others.

Ogbonanya stressed that a  validation team from EITI international Secretariat will be in Nigeria from 10th – 18th November 2022 to conduct assessment of Nigeria’s readiness for the exercise

He noted that while in the country, the validation team may choose to consult or interact with stakeholders including media and civil society.

“The exercise is expected to formally commence in January 2023, beginning with the review of completed Validation templates that will be submitted to the global body by the NEITI board/management. The EITI Secretariat will also review other relevant documents (online/offline) on EITI implementation in Nigeria”.

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