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              Kenya kicks off Customer Service Week 2025 with ‘Mission: Possible’ theme

              Kenya kicks off Customer Service Week 2025 with ‘Mission: Possible’ theme

              Zimbabwe showcases tourism excellence at AESATA conference

              Zimbabwe showcases tourism excellence at AESATA conference

              6th Africa Public Sector Conference & Awards continue

              6th Africa Public Sector Conference & Awards continue

              VRA bolsters energy sector ties with strategic stakeholder engagements

              VRA bolsters energy sector ties with strategic stakeholder engagements

              South Africa:Bredell urges Ethical leadership to revive  ailing municipalities

              South Africa:Bredell urges Ethical leadership to revive  ailing municipalities

              Tanzania, Zambia strengthen aviation partnership

              Tanzania, Zambia strengthen aviation partnership

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              Western Cape hosts summit to boost climate resilience

              Trending Tags

              • FEATURES
                Meet Sidi Ould Tah: Newly President of African Development Bank Group

                Meet Sidi Ould Tah: Newly President of African Development Bank Group

                Meet the newly appointed executives steering NNPC Limited

                Meet the newly appointed executives steering NNPC Limited

                Meet Netumbo Nandi-Ndaitwah: Namibia’s First Female President

                Meet Netumbo Nandi-Ndaitwah: Namibia’s First Female President

                Meet Haruna Iddrisu: The Politician, Lawyer, and Latest  Minister of Ghana’s Ministry of Education

                Meet Haruna Iddrisu: The Politician, Lawyer, and Latest  Minister of Ghana’s Ministry of Education

                Meet Agnes Naa Momo Lartey: The Minister Designate for the Ministry of Gender, Children and Social Protection in Ghana

                Meet Agnes Naa Momo Lartey: The Minister Designate for the Ministry of Gender, Children and Social Protection in Ghana

                Meet Justina Nelson: A Banking Visionary and Strategic Leader Who Takes Over MIIF as Acting Chief Executive Officer

                Meet Justina Nelson: A Banking Visionary and Strategic Leader Who Takes Over MIIF as Acting Chief Executive Officer

                Meet Nigeria’s Newly Nominated Ministers

                Meet Nigeria’s Newly Nominated Ministers

                Nigeria’s $5 billion FLNG project gets Presidential endorsement

                FULL TEXT: President of Nigeria 2024 Independence Day speech

                Trending Tags

                • DIGITAL ECONOMY
                  South Africa re-elected to ICAO to enhance Africa’s aviation agenda

                  South Africa re-elected to ICAO to enhance Africa’s aviation agenda

                  Kenya :NLC, Ministry meet to assess  Thwake Dam project

                  Kenya :NLC, Ministry meet to assess Thwake Dam project

                  South Africa:NCC Issues Compliance Notices to 37 Mpumalanga Suppliers

                  South Africa:NCC Issues Compliance Notices to 37 Mpumalanga Suppliers

                  Tanzania signs deal with Cuban firm to enlarge TBPL

                  Tanzania signs deal with Cuban firm to enlarge TBPL

                  Meet Netumbo Nandi-Ndaitwah: Namibia’s First Female President

                  Namibia: President Nandi-Ndaitwah unveils new cabinet

                  Kenya: Ministry of Health outlines SHA compliance measures

                  Kenya: Ministry of Health outlines SHA compliance measures

                  South Africa: Durban Port to expand vehicle terminal

                  South Africa: Durban Port to expand vehicle terminal

                  Botswana, Türkiye aim for stronger ties

                  Botswana, Türkiye aim for stronger ties

                  Nigeria to host 2025 Afreximbank annual meetings

                  Nigeria to host 2025 Afreximbank annual meetings

                  Trending Tags

                  • INTERVIEW
                    Botswana Stock Exchange’s Strategic moves to attract foreign investors: Insights from CEO ; Kopano Bolokwe

                    Botswana Stock Exchange’s Strategic moves to attract foreign investors: Insights from CEO ; Kopano Bolokwe

                    Transforming Botswana’s Public Service: Gaone Manzini on Leadership, Integrity, and Vision for the Future

                    Transforming Botswana’s Public Service: Gaone Manzini on Leadership, Integrity, and Vision for the Future

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                    Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate

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                    Ghana’s registra department: driving digitization for effecient services

                    Ghana’s registrar department: driving digitization for efficient services

                    Nigerian’s First Lady Aisha Buhari in Talks on Plans After Husband’s Presidency

                    Nigerian’s First Lady Aisha Buhari in Talks on Plans After Husband’s Presidency

                    Cedi expected to end 2020 with less than 5% depreciation to dollar Says Expert

                    Cedi expected to end 2020 with less than 5% depreciation to dollar Says Expert

                    “Citizen Gate is Designed to bring the government closer to the people”- Mr. Toba Otusanya, DG, Lagos State Office of Transformation, Creativity & Innovation

                    “Citizen Gate is Designed to bring the government closer to the people”- Mr. Toba Otusanya, DG, Lagos State Office of Transformation, Creativity & Innovation

                    I cherish and treasure my reputation for probity and accountability,– Dr. Babatunde Ajibade, SAN

                    I cherish and treasure my reputation for probity and accountability,– Dr. Babatunde Ajibade, SAN

                    Trending Tags

                    • EVENTS
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                      Ghana: Vice President Bawumia launches Credit Scoring System

                      Ghana: Vice President Bawumia launches Credit Scoring System

                      FAAN MD Olubunmi Oluwaseun Kuku has emerged as Public Sector Global CEO of the Week

                      FAAN MD Olubunmi Oluwaseun Kuku has emerged as Public Sector Global CEO of the Week

                      Sam Shivute, Commissioner General, Namibia Revenue Agency has Emerged as Public Sector Global CEO of the Week

                      Sam Shivute, Commissioner General, Namibia Revenue Agency has Emerged as Public Sector Global CEO of the Week

                      Ms. Hapiloe Sello, Chief Executive Officer, South African National Parks has Emerged as Public Sector Global CEO of the Week

                      Ms. Hapiloe Sello, Chief Executive Officer, South African National Parks has Emerged as Public Sector Global CEO of the Week

                      Dr. Douglas Letsholathebe, Minister of Education and Skills Development, Botswana has Emerged as Public Sector Global Minister of the Week

                      Dr. Douglas Letsholathebe, Minister of Education and Skills Development, Botswana has Emerged as Public Sector Global Minister of the Week

                      Bashir Adewale Adeniyi MFR, Comptroller General, Nigeria Customs Service has Emerged as Public Sector Global CEO of the Week

                      Bashir Adewale Adeniyi MFR, Comptroller General, Nigeria Customs Service has Emerged as Public Sector Global CEO of the Week

                      Ms. Latifa Mohamed Hamis, Director General, Tanzania Trade Development Authority, has Emerged as Public Sector Global CEO of the Week

                      Ms. Latifa Mohamed Hamis, Director General, Tanzania Trade Development Authority, has Emerged as Public Sector Global CEO of the Week

                      The Minister of Health, Morocco, Hon. Khalid Ait Taleb has Emerged as Public Sector Global Minister of the Week

                      The Minister of Health, Morocco, Hon. Khalid Ait Taleb has Emerged as Public Sector Global Minister of the Week

                      Esther Ngari Emerges Public Sector Global ‘CEO of the Week’

                      Esther Ngari Emerges Public Sector Global ‘CEO of the Week’

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                      Nigeria Extractive Industries Transparency Initiative Reports NNPC, FIRS, 2 others generated N28 trillion revenue in 3 years

                      Public Sector Global by Public Sector Global
                      May 4, 2022
                      in NEWS
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                      Nigeria Extractive Industries Transparency Initiative Reports NNPC, FIRS, 2 others generated N28 trillion revenue in 3 years
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                      Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that four Federal Government agencies earned N28.02 trillion between 2017 and 2019.

                      According to NEITO as disclosed in its Fiscal Allocation and Statutory Disbursement (FASD) for the years between 2017 and 2019.

                      The 4 agencies are the Nigerian National Petroleum Company Ltd. (NNPC); Federal Inland Revenue Services (FIRS); Department of Petroleum Resources (DPR) now Nigeria Upstream Petroleum Regulatory Commission (NUPRC) and the Ministry of Mines and Steel Development (MMSD).

                      NEITI disclosed that of the amount earned, N22.68 trillion was remitted to the Federation Account, citing that FIRS generated the sum of N13.48 trillion within the period under review with Petroleum Profit Tax (PPT) accounting for N5.80 trillion (43.09 per cent).

                      “Value-Added Tax (VAT) and other taxes accounted for 32 per cent and 24 per cent respectively while it recorded highest revenue collection of N5.02 trillion in 2018.

                      “a total sum of N8.82 trillion was generated by the NNPC within the period,” stating that N4.55 trillion came from domestic crude sales, while export receipts accounted for N4.27 trillion.

                      “N5.33 trillion was deducted at source for Joint Venture (JV) cash call and others, leaving the net amount of N3.49 trillion, transferred to the Federation Account.

                      “During the period under consideration, a total of N8.82 trillion was generated. However, only N3.49 trillion (39.55 per cent) was remitted to the Federation Account due to deductions at source by NNPC for JV cash calls.

                      “The deductions at source by NNPC negate the principle of Federation Account,” the report said.

                      The report stated that its audit covers four federal revenue-generating and 11 beneficiary agencies that are involved in the management of extractive industries funds and also covered nine selected states: Akwa-Ibom; Bayelsa; Delta; Gombe; Imo; Kano; Nasarawa; Ondo and Rivers.

                      It listed the beneficiary agencies as the Niger Delta Development Commission; Tertiary Education Trust Fund; Petroleum Trust Development Fund; Petroleum Equalisation Funds; Ecological Fund and Stabilisation Funds.

                      Others are the Nigerian Sovereign Investment Authority (NSIA); Development of Natural Resources Fund (DNRF); Excess Crude Account (ECA); Nigeria Content Development and Monitoring Board (NCDMB) and Petroleum Products Pricing Regulatory Agency (PPPRA).

                      The report added that DPR (now NUPRC) generated N3.53 trillion for the three years under review, with royalty payments accounting for N3.40 trillion (96.41 per cent) and transferred N3.53 trillion to the Federation Account, citing that audit also revealed a surplus of N6.72 billion was as a result of unremitted receipts from the prior year.

                      “The Ministry of Mines and Steel Development (MMSD) generated N12.498 billion within the three years period. The Mining Inspectorate Department (MID) contributed N6.43 billion while Mining Cadastral Office (MCO) accounted for N6.06 billion.

                      “Minerals and non-minerals revenue contributed N12.84 trillion (56.61 per cent) and N6.57 trillion (28.97 per cent) respectively, while VAT accounted for N3.27 trillion (14.42 per cent),” it stated.

                      The publication of FASD report is in fulfilment of Nigeria’s obligation to the global Extractive Industries Transparency Initiative (EITI) and in compliance with the provisions of the NEITI Act 2007.

                      Tags: 2 others generated N28 trillion revenue in 3 yearsFIRSNigeria Extractive Industries Transparency Initiative Reports NNPC
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