The Nigerian Extractive Industries Transparency Initiative (NEITI) yesterday called on President Muhammadu Buhari to consider making it a priority of his government to recover the $18.1 billion unremitted oil and gas funds from oil and gas companies operating in Nigeria. NEITI said that over $7.5 billion, which represents underpayments, under-assessment of taxes, royalties and rents as revealed by several independent audit reports of the agency, as well as $11.6 billion which represents outstanding total dividends arising from loans and interest repayments from the federal government’s investment in the Nigerian Liquefied Natural Gas (NLNG) company were still outstanding. The Executive Secretary of NEITI, Mrs. Zainab Ahmed, stated in Abuja that while these monies were still outstanding, issues around their recoveries had not been adequately addressed in the past. A statement from the agency’s head of communications, Ogbonnaya Orji, disclosed that NEITI had made this call to Buhari at […]