RemTrack Archives - Page 4 of 4

NEITI deny allegations of information, data concealment

Beloved JohnDecember 12, 20232 min

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...

National Assembly Politics RemTrack

ANALYSIS: Nigeria’s budget and bogus oil benchmarks

Efe IseghohimeDecember 8, 20239 min

In the last ten years, Nigeria has been unable to meet its oil production benchmark signifying a pattern of failing in executive planning and legislative approval of the country’s annual budgets Nigeria set its first Medium-Term Expenditure Framework (MTEF) benchmark for crude oil in 2004, which was about 19 years ago. The MTEF provides a framework for Nigeria’s annual budgeting process, including revenue projections and expenditure estimates for a period of three years. It also...

RemTrack Spotlight

Nigeria scores impressively high in EITI assessment

Efe IseghohimeDecember 5, 20232 min

Nigeria’s highly successful scaling of the EITI global assessment is a true testament to NEITI’s hard work Nigeria has successfully scaled through the final global assessment of the Extractive Industries Transparency Initiative (EITI). With high scores reaching 90 on data integrity, comprehensiveness of report, outcomes and impacts, contribution to economic growth and adherence to legal frameworks, Nigeria made an overall score of 72, according to a statement released by the Nigeria Extractive Industries Transparency Initiative...

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INSIGHT: Oil, revenue and the MTEF benchmarks

Efe IseghohimeNovember 2, 20238 min

Crude oil production is a vital aspect of the MTEF benchmarks upon which the government builds revenue prospects to fund service delivery. Nigeria’s crude oil production is pivotal to its economy. With extensive reserves, which are concentrated primarily in the Niger Delta region, the country is one of the largest oil producers in Africa and a key player in the global energy market. Daily crude oil production in Nigeria has historically contributed significantly to...

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PERSPECTIVE: Artisanal mining as empowerment for youths

Efe IseghohimeOctober 19, 202315 min

Artisanal mining of crude oil in the Niger Delta Region verges on criminality. But given the scale of the activity, should the government consider making it a possible avenue for empowerment of the youths? Energy plays an important role in the economy of any nation of the world. It directly and indirectly affects the standard of living of its citizens, the security, transport, growth and development of its society. The world is still largely run...

Featured RemTrack Resources

Energy transition: Biofuel as viable alternative to fossil fuel

Efe IseghohimeOctober 11, 20236 min

Biofuel is a goldmine for Nigeria to harness in the quest for energy transition but the government must get its act right while industry players should live up to the billing Nigeria, often referred to as the “Giant of Africa”, is grappling with the dual challenge of energy sustainability and environmental responsibility. With a population of over 200 million people and an economy heavily reliant on fossil fuels, the nation faces increasing energy insecurity and...

Featured Open House RemTrack

Oil producing communities decry under-development despite $5.8bn mandatory payments

adminMarch 28, 20233 min

Communities lament increased rate of abandoned projects and exclusion from the needs assessment as well as budgetary decision-making processes carried out by the NDDC. Urges President Muhammadu Buhari to act on report of the forensic audit of the NDDC and fulfil his promise of recovering every stolen kobo Oil-producing communities in the Niger Delta region have continued to decry underdevelopment in their states in spite of the establishment of interventionist approaches like...

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