NEITI Report Uncovers N33m Discrepancy in Solid Minerals Revenue

The Nigerian Extractive Industries Transparency Initiative (NEITI) audit has uncovered a discrepancy of N33.1 million in its 2011 audit report.
The report presented in Abuja yesterday further revealed that the federal government had earned N26.9 billion from solid minerals in 2011 out of which N26.8 billion represented funds paid by companies.
Speaking at the public presentation of the 2011 Solid Minerals report in Abuja yesterday, the executive secretary, NEITI, Mrs Zainab Ahmed, said, “The difference between what the companies paid in taxes, levies, royalties and what government actually received in its coffers was N33.1 million. Continue Reading