Connect with us

Business

FG Recovered N2.6trn Revenue From Oil Firms – NEITI

Published

on

The Federal Government has recovered a total of N2.6 trillion revenue from oil firms following the Nigeria Extractive Industries Transparency Initiative (NEITI) National Assembly intervention.
NEITI said a total of 2.6 billion dollars remained outstanding in the hands of companies as at March 2022.
The Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji, disclosed this in Abuja at its Civil Society Organisations (CSO) and media engagement on Extractive Industries Transparency Initiative (EITI) validation.
The EITI validation, which is conducted every three years, is a quality assurance mechanism to ascertain level of compliance and progress in implementing its standards among member countries, including Nigeria.
Orji said NEITI’s financial report led to the recovery of the debt.
“By the time we release 2021 report,  any company owing Nigeria we have no choice than to invite EFCC to take over and handle it as an economic crime,” he said.
He stated that the recovery was as a result of NEITI’s appearance at the National Assembly to defend its position based on data it provided.
Recently, NEITI released 2019 reports which included list of 77 oil and gas companies that owed the government up to 6.8 billion dollars.
The National Assembly had summoned the organisation to come and defend it by showing how it arrived at that.
According to Orji, as soon as it released the 2020 report to prove that, the companies that wanted their names protected were rushing to the relevant agencies to pay up.
He revealed that from 77 companies, the number decreased to 51 companies and the amount came down to 3.6 billion dollars.
“This”, he said, “shows that from the point we released that information, a lot of money came in. None of them disputed our report, rather they were giving excuses why they did not pay.
“The money include all taxes and VAT being collected by the Federal Inland Revenue Service (FIRS) and all royalties being collected by the Nigeria Upstream Petroleum Regulatory Commission (NUPRC).
“NEITI collects nothing, all we are asking is for us to be recognised and offered thank you,” he said.
He noted that through NEITI, there had been increased demand, easy access and availability of verified information and data in the public domain.
According tohim, President Muhammadu Buhari’s administration should take credit on doing well on extractives sector reforms.
“The content of our up to date reports is very incisive and is shaping public debates,” the Executive Secretary said.

Continue Reading

Business

Kenyan Runners Dominate Berlin Marathons

Published

on

Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

Continue Reading

Business

NIS Ends Decentralised Passport Production After 62 Years

Published

on

The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
Continue Reading

Business

FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

Published

on

The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
Continue Reading

Trending