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INSIGHT: NNPCL, public revenues and the profit motive

Ever wondered how the Nigerian National Petroleum Corporation Limited (NNPCL) earns and utilizes money and on whose behalf? This piece explores how the state-owned company generates income and makes profits as empowered by the Petroleum Industry Act (PIA) 2021 and how such revenues contribute to Nigeria’s economy. Until the enactment of the Petroleum Industry Act (PIA), 2021, the Nigeria National Petroleum Corporation (NNPC) was a state-owned behemoth that played both regulatory and commercial roles in...

Capacity strengthening on fiscal reforms able to reposition our country – Deputy Speaker Kalu

“It is imperative to recognize the effects that fiscal reforms can have on our nation. Our collective commitment to encouraging transparency fostering accountability, and responsible governance is why we are here today.” Deputy Speaker of the House of Representatives, Rep. Benjamin Kalu (APC, Abia) has stressed the need for lawmakers to consistently engage in capacity development concerning fiscal reforms and debt management to be abreast with global best practices to reposition the country’s financial sector....

Amendment of FRA can ensure macro-economic stability – Muruako

“We dare say that if this Act had been amended in good time, Nigeria might have been spared the current macroeconomic challenges it found itself grappling with.” The Fiscal Responsibility Commission (FRC) has restated the need for the amendment of the Fiscal Responsibility Act to eliminate the inbuilt limitations within the Act. Executive Chairman, FRC, Victor Muruako, Esq. Made this call on Monday in Abuja at a capacity-building workshop designed for members of the National...

INSIGHT: NNPC and the Akara Company Story

In discussions surrounding the transitioning of the Nigerian National Petroleum Corporation Limited (NNPC) to Nigerian National Petroleum Corporation Limited (NNPCL), misunderstandings persist about its ownership and mode of operations.   One of the major misconceptions is whether or not the NNPC is a commercial or private company. Confused about what these terms mean? There is a story about the Akara for 4 the People Company that can help us understand what is important here. In case...

EXPLAINER: The 20 Subsidiaries of NNPC Limited

NNPC, Now NNPCL, Nigeria’s national oil company has undergone some rapid and significant metamorphosis in the last three years. Here’s why and these are the structural changes you need to know.  Despite the numerous motions to diversify Nigeria’s economy, there has not been a very significant movement away from petroleum as the mainstay. And given that the Nigerian state has been putting its mouth where its money is, the Nigeria National Petroleum Corporation (NNPC) has...

BODIJA BLAST: Illegal mining undermining the economy, environment and now the safety of our communities

What is the significance or value of having abundant solid mineral resources if Nigeria continues to be ravaged by illegal mining activities, resulting in substantial economic revenue losses, environmental degradation, and the endangerment of lives and property security? In August 2023, four illegal miners were killed following the collapse of a mining site in Kogo Kadage village in the Yadagungume area of Ningi Local Government Area of Bauchi State. Less than 6 months following that...

PERSPECTIVE: Safeguarding communites in the energy transition

In a global attempt to phase out fossil fuel, can Nigeria leverage its mineral resources to become a leading advocate for renewable energy, while upholding good climate practice and peace amongst the host communities? On the back of the COP28 Agreement for the world to shift from fossil fuels to renewable energy, it has become necessary to spotlight the mineral resources available in Nigeria that could move the country comfortably from the shackles of fossils...

OrderPaper applauds NEITI on EITI assessment

The non-profit said the results of the global assessment testify to NEITI’s diligent commitment to discharging its mandate and called on the federal government to constitute the agency’s board without delay OrderPaper Advocacy Initiative (OAI), a non-governmental orgnisation focused on policy related engagement and intervention, has applauded the Nigeria Extractive Industries Transparency Initiative (NEITI) for scaling through an Extractive Industries Transparency Initiative (EITI) assessment with an impressive score. The OAI is an non-profit that seeks...

NEITI deny allegations of information, data concealment

The extractive watchdog emphasized that its reports meet the highest global standards of accuracy and objectivity as recently affirmed in a recent global assessment of NEITI The Nigeria Extractive Industries Transparency Initiative (NEITI) has refuted claims that it concealed some information from its 2021 oil and gas industry report. NEITI, in a statement issued on Monday, described the claims as fictitious, and incorrect  information from frivolous media reports. The agency emphasised its dedication to transparency...

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