FG To unveil oil bloc owner


The Federal Government will on 12th December this year unveil the identities of the true owners of its oil blocks through the beneficial ownership register for the oil and gas industry, the Nigerian Extractive Industries Transparency Initiative (NEITI) has said.

Addressing reporters shortly after a meeting with the Head of International Secretariat of the global Extractive Industries Transparency Initiative (EITI), Mr. Mark Robinson, who was in Abuja on a working visit, NEITI Executive Secretary Dr. Waziri Adio said the meeting was organized for journalists and civil society groups to exchange views on EITI implementation in Nigeria, and the ongoing reforms in the oil and gas mining sectors.

Adio was represented by the Director, Communications and Advocacy, Dr. Orji Ogbonnaya Orji. The beneficial ownership register is expected to contain information on the actual owners of the extractive industries companies irrespective of the names of those who manage them in trust for their principals.

Also speaking, the Head of International Secretariat of EITI, Robinson, said the Group Managing Director, Nigerian National Petroleum Corporation (NNPC) told him that the corporation was looking into remediation issue that has been reoccurring in the NEITI audit reports.

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