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Buhari Govt Unveils List Of Oil Companies, Licences Owners

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The administration of President Muhammadu Buhari alongside the Nigeria Extractive Industries Transparency Initiative (NEITI), has released a list of the real owners of oil assets and companies.

Naija News reports that the website (bo.neiti.gov.ng) which contained the list was unveiled in Abuja on Thursday.

Speaking on the website, the NEITI executive secretary, Waziri Adio, said it contains a list of the owners of 270 licences in the mining sector and the owners of 61 assets and 56 companies in the oil and gas sector.

According to Adio, the website would be updated continuously as more information becomes available.

He said: “Legitimate businesses and most businesses also stand to benefit from knowing who they are doing business with, from reduced exposure to reputational risks, from having a level-playing field, and from improved trust in their operating environment.

“So let me say this upfront: this beneficial ownership register is not against businesses. Rather, it is for the good of businesses as it is for the good of countries, and it is for the good of civil groups, the media, and individuals. So there is nothing for anyone, especially anyone engaged in legitimate businesses, to be jittery about.

“In a short while, the beneficial ownership register for the extractive sector in Nigeria will go live. At the touch of a button, anyone with internet access can find out, for free, the owners and the ownership structure of extractive assets that are in production in Nigeria. These are the assets covered within the scope of the NEITI audits.

“In this free electronic register, you will find the owners of 270 licences in the mining sector, and the owners 61 assets and 56 companies in the oil and gas sector. The register will continuously be updated as more information becomes available and will periodically be upgraded to allow for better user-interface.”

Source: Naija News

Ogbolu George is a graduate of Mass Communication from the University of Benin. He loves politics, is a movie addict and a die-hard Arsenal fan. George is a Senior Content Creator at Naija News.