NEITI Generates N199 Billion In 7 Years

The Nigerian Extractive Initiative Transparency Initiative (NEITI), on Wednesday, announced that the Solid Mineral Sector generated N199 billion in seven years.

NEITI’s Director of Communications, Orji Orji, made the disclosure on the sideline of the on-going Nigeria Mining Week in Abuja.

Orji gave a breakdown of the N199.366 billion generated in the solid mineral sector through NEITI from 2007 to 2014 as:

*N8.194bn was generated in 2007,
*N9.581bn in 2008,
*N19.425bn in 2009,
*N17.367bn in 2010,
*N23.674bn in 2011,
*N31.4 49bn in 2012,
*N33.862bn in 2013,
*N55.814bn in 2014.

He said prior to the establishment of NEITI, the sector was experiencing improper record of minerals.

Orji attributed the feat to many leakages identified and blocked by the agency.

“We draw the attention of the affected agencies with revenue leakages and also the attention of the Federal Inland Revenue Service (FIRS), Office of the Accountant General, Central Bank and the Ministry of Finance.

“As an agency, we can’t be everywhere, but we work with affected agencies to address leakages,’’ he said.