Advisors ReportsAdvisors Reports
  • News
  • Editorial
  • Feature
  • Special Report
  • Oil & Gas
    • Upstream
    • Midstream
    • Downstream
  • Power
    • Generation
    • Distribution
    • Transmission
  • Renewables
    • Solar
    • Nuclear
    • Hydrogen
  • Extractive Industry
  • Maritime
Search
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Oyedele fiscal policy Committee teams up with NEITI to drive oil, gas, extractive industry transparency
Share
Sign In
Notification Show More
Font ResizerAa
Advisors ReportsAdvisors Reports
Font ResizerAa
Search
  • News
  • Editorial
  • Feature
  • Special Report
  • Oil & Gas
    • Upstream
    • Midstream
    • Downstream
  • Power
    • Generation
    • Distribution
    • Transmission
  • Renewables
    • Solar
    • Nuclear
    • Hydrogen
  • Extractive Industry
  • Maritime
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
DownstreamExtractive IndustryImpactNewsOil & GasUpstream

Oyedele fiscal policy Committee teams up with NEITI to drive oil, gas, extractive industry transparency

Admin
Last updated: February 9, 2024 8:46 am
Admin
Share
4 Min Read
SHARE

 

Oredola Adeola

 

The Presidential Committee on Fiscal Policy and Tax Reforms (PCFPTR) has agreed to partner with the Nigeria Extractive Industries Transparency Initiative (NEITI) to leverage the findings and recommendations contained in its oil & gas and extractive industry reports to advance economic policy initiatives, leveraging accurate data to promote transparency, accountability, and stakeholder engagement.

 

Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, made this known on Thursday during a meeting with Dr Ogbonnaya Orji, Executive Secretary of NEITI, held at the NEITI House Abuja.

According to the PCFPTR Chairman, NEITI is a key partner to assist in fulfilling the Committee’s mandate, leveraging on its significant contributions to the extractive sector to enhance the accuracy of data and transparency in revenue generation.

The Chairman of PCFPTR in his comment stated that the committee has classified its work in three distinct categories, including fiscal governance with particular attention to financial management, revenue generation, borrowing, spending as well as policy coordination at the national and sub-national levels.

Others, according to him, are on revenue transformation focusing on improving government revenues through improved mechanisms for taxing oil and gas and non-oil resources to transform the revenue profile of the country.

Oyedele further said, “PCFPTR is looking at oil and gas which is the core area of focus by NEITI as well as non-oil resources like the solid minerals sector which NEITI can support the committee in the area of information and data.

“The third pillar or mandate of the committee is economic growth facilitation and competitiveness with focus on removal of impediments for businesses to thrive, grow, provide jobs and generate revenues.

 

He announced that under the first phase of the committee’s work which he classified as the ‘quick wins’, it submitted a report with over 20 recommendations to the President, three of which have been fully implemented.

“By harnessing data-driven insights and best practices, both entities will strive to create an enabling environment for investment, job creation, and economic growth.

 

“Furthermore, the collaboration will prioritise initiatives aimed at enhancing transparency, accountability, and integrity in the management of Nigeria’s extractive resources.

“This will be done through promotion and facilitation of participatory and inclusive dialogue with stakeholders, engagements and information sharing, building trust, promoting responsible resource management and combating illicit financial flows,” Oyedele said.

 

The NEITI Executive Secretary in his remark stated that NEITI’s key focal areas of improving Nigeria’s macro-economic environment, strengthening public expenditure management, structure, institutional and governance reforms to boost economic growth, create jobs and poverty reduction aligns closely with the mandates of the Presidential Committee.

He said, “With the combined forces of the Presidential Committee and NEITI, Nigeria would benefit from shared knowledge, skills, information and data that informs best economic reforms and policy making.

“NEITI is available to provide information and data as contained in the NEITI oil, gas, solid minerals and the Fiscal Allocation and Statutory Disbursement Reports and advised the Committee on the need to utilise the findings and recommendations contained in the NEITI reports to advance economic policy initiatives for the benefit of the citizens.

Multisub Energy, OHCDT empower host communities with solar lights, other projects
NNPC boss, Kyari hits 60, praises Tinubu, Buhari
Akwa Ibom Governor sacks Ibom Power MD, Engr. Etukudo, over statewide power outage
#CERAWeek2024: Kyari, NNPCL delegation hold high-profile talks with energy titans, business allies  
Sanwo-Olu visits Paris’ Rungis Market, seeks collaboration for Lagos Food and Logistics Hub project

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Copy Link Print
Share
Previous Article NLC, TUC give FG 14 days to lessen economic impact of fuel price hike, Naira devaluation
Next Article FG proposes settling domestic gas in Naira to tackle frequent power outages
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

- Advertisement -
Ad imageAd image

Latest News

Mainstream Energy Ltd. donates cash, relief materials to Mokwa flood victims
Documentary Environment Impact News Power Renewables
June 5, 2025
FG to explore alternative debt facility to offset ₦2tn power sector legacy debt
Distribution Documentary Finance Generation Impact News Power
June 3, 2025
Nigerians paying just N815–N820 per litre, 55% less than N1,600 regional average –Dangote
Documentary Downstream Energy Transition News Oil & Gas Sustainability Technology
June 2, 2025
Dawcon, Green flare sign flare gas deal with OML 30 JV to power bitcoin mining, AI computing
Gas Green Finance News Power Renewables Sustainability Technology
June 2, 2025
Follow US
© 2022 AdvisorsReports. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?