The Economic and Financial Crimes Commission (EFCC) has said it will probe oil and gas firms over their failure to comply with the Nigeria Extractive Industries Transparency Initiative (NEITI) audit.
EFCC Chairman Ola Olukoyede issued this warning to oil and gas firms during his address as a special guest while presenting the NEITI Report on the Oil and Gas sector in Abuja.
“The current NEITI Report on the Oil and Gas sector is now with the Commission for further necessary action,” Olukoyede said.
A breakdown shows that 2.
521tn standard cubic feet were produced in 2022 representing a decline when compared with 2.744tn standard cubic feet produced in 2021.
“The Report attributed the decline to dwindling oil production arising from insecurity, oil theft and sabotage.”..
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