Dr. Orji Ogbonnaya, NEITI director of communicationsThe Nigeria Extractive Industries and Transparency Initiative says the removal of fuel subsidies will free the country’s economy from bondage.
He also disclosed that the agency would soon release a research policy advisory on the cost of fuel subsidy to the country, adding that the publication would outline facts and figures to reinforce NEITI’s position on the subsidy removal.Orji further noted that the dialogue was significant because the Extractive Industry Transparency Initiative 2019 required implementing countries, including Nigeria, to disclose any transactions including licensing that were granted and amended.
“The network has 20 EITI implementing countries, including Nigeria as members. I am pleased to report that NEITI is currently coordinating the efforts to deliver on these important tasks and ensure that the provisions of PIA regarding contract disclosures are activated. Orji, therefore, urged the governments of developing countries to pay attention to the energy transition, EITI advocacy for contract transparency, and just and equitable resource allocation.
According to Kyari, the extractive industry, especially oil and gas, are very important to countries, particularly the developing ones where there is a huge reliance on incomes derived from the extractive industry for national development.Kyari, who was represented by Chris Akamairo, group general manager, governance, risk and compliance, NNPC,
Source: Financial Digest (financialdigest.net)
nigeriaeiti DrOrjiOOrji NNPCgroup what happens to the Allocated Crude set aside for Domestic consumption ? . If NNPC isn't refining it what happens to the money from its sales ? . The problem isn't SUBSIDY, it is Secrecy, unaccountability and Corruption in the Petroleum Ministry/NNPC
naijama nigeriaeiti DrOrjiOOrji Talking out of both sides of his mouth...if this government keeps mismanaging the economy and the ₦ keeps falling against the $, the pump price of fuel will keep increasing because we import fuel
nigeriaeiti DrOrjiOOrji Example. Closing of our national boarders improve our economy too
nigeriaeiti DrOrjiOOrji After dz govt and d President told us in 2016 dey have removed subsidy and increase from 87naira to 145naira den and still later went ahead to increase what dey told d whole world dey removed to 165naira. We get dir receipt
nigeriaeiti DrOrjiOOrji K
nigeriaeiti DrOrjiOOrji Waziriadio 🖕🖕
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