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Transparency: Nigeria finally becomes EITI Compliant

After about five months of frenzied negotiations and last minute detailed presentations, the International Board of Extractive Industries Transparency Initiative (EITI) has endorsed Nigeria’s management of Extractive Industries Revenue as an EITI Compliant Country. The decision was announced last week in Paris, France at the 5th global conference of the EITI holding at the French capital.

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PIB: FG to pay $600m as dividend to oil producing communities

AS the oil and gas sector in the country eagerly awaits the passage of the Petroleum Industry Bill, PIB, the Federal Government has announced that with the passage of the bill, oil producing communities will begin to receive over $600 million as annual dividends, just as the Presidency urged the National Assembly to ensure the enactment of the PIB before the end of the present administration in May.

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