02 June 2016, Abuja – The Senate Thursday resolved to invite the Executive Secretary of the Nigeria Extractive Industry Transparency Initiative, (NEITI), Mr. Waziri Adio, to brief it on the content of 2013 Audit report of the agency.
The resolution followed a motion on “the urgent need for the Senate to look into the NEITI 2013 oil, gas and solid mineral audit report” sponsored by Senator Tijjani Yahaya Kaura (Zamfara North).
Senator Kaura in his lead debate noted that one of the key statutory functions of NEITI is to conduct regular audit of the extractive sector as provided in Section 4 of the Extractive Act.
He noted that details of the report showed that the country made $58.07 billion from its hydrocarbon industry in 2013 while the sum of N33.86 billion was realized from solid mineral sector in the same year.
The lawmaker said that the report also indicated that the sum of $3.8billion and N358.3 billion stood as outstanding revenue from the Nigeria National Petroleum Corporation and its subsidiaries in 2013.
