While $3.7 billion has been recovered to Government coffers, NEITI said its partnership with EFCC is ongoing to recover more funds owed by oil firms
The Nigeria Extractive Industries Transparency Initiative (NEITI) revealed that it has recovered over $3.7 billion into government coffers in 2020 and 2021 as outstanding liabilities from companies operating in the oil and gas sector in the country.
NEITI also said its collaboration with the Economic and Financial Crimes Commission (EFCC) is set to recover $6 billion and an additional N66 billion owed to the federal government by stakeholders in the oil sector.
The Executive Secretary of NEITI, Ogbonnaya Orji, disclosed this during the agency’s 2025 budget defence before the House of Representatives Committee on Petroleum Resources, Upstream during the week.
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He stated that the agency had submitted all its reports on the extractive industry to the National Assembly, underscoring NEITI’s commitment to promoting transparency and accountability in Nigeria’s oil, gas, and mining sectors.
Orji revealed that NEITI has been allocated a budget envelope of N6.5 billion for the 2025 fiscal year, comprising N2.22 billion for personnel costs, N1.722 billion for overheads, and N2.575 billion for capital projects.
He further highlighted the agency’s critical activities for 2025, which include conducting industry audits of the oil, gas, and mining sectors, fiscal allocation and statutory disbursement audits, and research on fuel consumption and the economic impact of energy transition in Nigeria.
However, members of the House Committee raised concerns over repeated and unjustifiable budget items. Rep. Kafilat Ogbara (APC, Lagos) criticized the inclusion of N32 million for meals in the 2025 budget, describing it as excessive amidst the country’s economic hardship.
“There is no way you can spend that amount of money on meals in a year when Nigerians are facing hard times. Government agencies must ensure that their budget proposals align with the purpose for which the funds are requested and not treat the budget process as a ritual to appropriate public funds,” Ogbara said.
Similarly, Rep. Ademorin Kuye (APC, Lagos) called on government agencies to consider the country’s economic realities when preparing their budgets. “The general perception is that the National Assembly is a rubber stamp, approving whatever is presented. We must show prudence and circumspection in expenditure,” Kuye stated.
The Committee Chairman, Rep. Alhassan Ado Doguwa (APC Kano), also faulted the inclusion of welfare packages for National Assembly members in the agency’s budget, noting that the committee had not conducted oversight visits to NEITI.
“The only welfare we expect from you is for the Nigerian people,” Doguwa emphasized. “Agencies of government must recognize that these expenditures are made at the expense of the Nigerian public, who are bearing the brunt of a tough economy.”
Despite the criticisms, Doguwa assured NEITI of the legislature’s support in executing its mandate, provided the agency justifies its budget proposals. “Your agency is critical, and we appreciate the work you are doing. We will support you as long as your expenditures are justifiable,” he concluded.
STAR Check: Nigerians, particularly, constituents of Doguwa/Tudun Wada federal constituency, can keep tabs on the legislative performance of Rep. Doguwa throughout the 10th House here
