By Nneka Nwogwugwu
The Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), Orji Ogbonnaya Orji, has said that the agency will on June 29, release a research Policy Advisory on the cost of fuel subsidy to the country.
“The publication will outline facts and figures to reinforce NEITI’s position that the removal of fuel subsidy will free our economy from bondage, benefit the majority poor and possibly may hit the few affluent rich currently involved in the subsidy transactions,” he stated on Tuesday during the 1st National Extractives Dialogue (NED).
The Dialogue was co-hosted by the Nigeria Extractive Industries Transparency Initiative (NEITI) and Spaces for Change (S4C), a civil society organisation, with support from the Ford Foundation.
Orji also informed that the agency would, in the coming weeks, convene a multi-stakeholders forum to provide a status report on the Petroleum Industry Act (PIA).
Orji, who disclosed this in Abuja, said in the last one year, NEITI has deliberately focused on aligning its operations to addressing key issues that will aid the government to help citizens.
These issues, he said include designing an effective implementation framework for the Petroleum Industry Act.
He also noted that the agency intends to publish the 2021 oil & gas and solid minerals industry reports by November, this year.