Abuja — The Nigeria Extractive Industries Transparency
Initiative (NEITI) says about N65 billion have been recovered from oil
companies due to its audit reports findings.
NEITI board chairman, Ledum Mitee who
made the disclosure while presenting the 2007-2011 Fiscal Allocation and
Disbursement audit in Abuja, also noted that it is not through that NEITI has
spent about N1 billion in conducting its audits.
Mitee explained that despite claims
that the audits have not benefited the country; a lot of improvements have been
seen in the operations of the oil and gas industry operators.
According to him, "First, the
amount so far spent on NEITI reports since inception is not up to the claimed
N1b. secondly and more importantly, apart from the well documented recoveries
of over $2b that have been made in the past, I am pleased to announce that
since the reconstitution of the Inter-Ministerial Task Team (IMTT) last
December by the Federal Government, NEITI working with the relevant agencies
through the IMTT, the commendably uniquely Nigerian machinery for EITI
implementation, have made recoveries from the 2009-2011 audit report alone of a
total of N64,401,841,370.40 from some companies notably AMNI, Chevron,
Midwestern, Mobil, Agip and Total; another $5.8m is expected to be paid this
week by Express Petroleum and Gas Company.
"Arising from the recorded
achievements, it would be safe to say that NEITI is systematically turning the
laudable decision to introduce and statutorily implant implementation of the
initiative in Nigeria into an opportunity for the improvement of our country's
macro-economic environment, strengthening of public expenditure management and
the implementation of institutional and governance reforms in order to bring
meaningful impacts in the lives of our people", he said.
He stressed that NEITI was encouraged
by these and the findings of its audits which has instigated reforms in the oil
and gas sector as well in the operation of the solid minerals sector.
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