untidy

The Nigeria Extractive Industry Transparency Initiative (NEITI) yesterday said secret ownership of companies, especially in the oil, gas and mining sectors, was costing Nigeria and other developing countries about $1 trillion yearly. The revelation comes as the December 31, 2019 deadline for the most populous black nation to implement the Extractive Industry Transparency Initiative (EITI) beneficial ownership standard approaches.

Though it was acknowledged that efforts were being made by the Department of Petroleum (DPR), NEITI, Mining Cadastre Office as well as other key ministries and government agencies to sanitise the industry, stakeholders, at a workshop in Port Harcourt, have, however, …