Every dollar counts: improving extractive revenue collection is key for Trinidad and Tobago

Trinidad and Tobago’s 2014 and 2015 Report show declining revenues and highlight the need for improved revenue collection systems

The Trinidad and Tobago’s EITI (TTEITI) latest report reveals that in 2015 the country received USD 3.3 billion in revenues from the extractive sector. This is a 27% decline from 2014. Despite depressed gas prices, the government avoided an even more drastic reduction in revenues. This was mainly due to an increase in dividends paid by the national gas company NGC.

DRC’s effort to increase transparency begins to pay dividends

The Government received a record USD 2 billion in 2014, despite falling commodity prices.

The recently published EITI Report shows a more resilient mining sector, characterised by increased production, employment and revenues. The USD 2 billion in government revenues in 2014 stands in stark contrast to the paltry USD 400 million that the government reported it received from the oil, gas and mining sector, when EITI implementation began in 2007.