The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that it is working with the Economic and Financial Crimes Commission (EFCC) to recover the sum of N66 billion owed the federal government by industry stakeholders in the oil sector.
The agency added that it was also collaborating with the anti-graft agency to recover another $6 billion owed to the federal government by some industry players.
Executive Secretary of the agency, Dr Ogbonnaya Orji, disclosed this on Monday in Abuja while defending the 2025 budget before the House of Representatives Committee on Petroleum Resources, Upstream.
He revealed that the agency was handed a budget envelope of N6.5 billion for the 2025 financial year, saying this is made up of N2.220 billion for personnel, N1.722 billion for overhead and N2.575 billion for capital projects.
The executive secretary told the committee that from its 2020 and 2021 report alone, over $3.7 billion was recovered into government coffers as outstanding liabilities from companies operating in the oil and gas sector in the country.
The committee, however, queried the agency for repeating items budgeted for in 2024, while also including items that are not justifiable in the current economic situation in the country.
A member of the committee, Hon. Kafilat Ogbara queried why the agency would budget N32 million for meals in the 2025 budget when Nigerians are going through hard times saying “there is no way you can spend that amount of money for meals in a year.”
She stated: “Most of our MDAs should ensure that what they are bringing as budget proposal must actually tally with the line item and the purpose why you want to use such funds. Let us not just see budget defence as the money is there and we should share it. So, let us see how to get our own share.
Also contributing, Ademorin Kuye, noted that in preparing the annual budget agencies of government should be mindful of the economic situation in the country, adding that the impression of Nigerians is that the National Assembly is a rubber stamp and will approve anything that is brought to them by government agencies.
Kuye said: “We are all aware of the situation in the country and we must be circumspect and be prudent in our expenditure because the general feeling out there is that the National Assembly is just a rubber stamp and whatever they bring is what we approve and that is not so.”
