EITI Status Satisfactory progress
Joined EITI in 2007
Latest Data From 2018
Latest Validation 2018
Website EITI Nigeria
Last updated 17 January 2022


According to OPEC, Nigeria has almost 40 billion barrels of proven oil reserve. After nearly 50 years of exploration, the oil and gas sector continues to play a significant role in the economy and accounts for 65% of total revenue to the government. With a maximum crude oil production capacity of 2.5 million barrels per day, Nigeria is Africa's largest producer of oil, and the 13th largest oil producing country in the world. The country has faced significant challenges in managing the sector such as the unaccountable use of revenues and corruption. Nigeria EITI has been effective in strengthening public debate and promoting policy options around signature bonuses, unpaid royalties, crude oil and refined products theft. It has identified USD 9.8 billion owed to the Federal Government, of which USD 2.4 billion has been recovered through Nigeria EITI’s efforts.

Beneficial ownership disclosure

Objectives of beneficial ownership transparency in Nigeria

  • Anti-corruption agenda and the ongoing oil sector reforms.
  • Government’s commitment to implementing Open Contracting Data Standard, and the establishment of a publicly accessible registry of the licensed owners of all companies operating in Nigeria.
  • Elimination of all forms of corruption through transparency and accountability in the extractive industry.

Progress on implementing beneficial ownership disclosure 

Nigeria proved its desire to implement beneficial ownership when they participated in the beneficial ownership pilot in 2015. Both the oil and gas and the mining audit provides legal ownership for the companies, which in some cases are natural persons. The report does not confirm if these natural persons are legal owners or beneficial owners. Concerns over confidentiality in disclosing beneficial owners, lack of political will and legislation requiring ownership disclosure were key challenges outlined in Nigeria's evaluation report. 

To meet the requirement of EITI of establishing a BO register by 1 January 2020, NEITI has developed a BO register for the extractive sector, the register is searchable by companies, assets and individuals. From a user perspective, the register performs and functions well. Significantly, the BO data is available for bulk download, allowing for systematic analysis of all companies on the register. There are however gaps, the register does not include unique identifier for companies, also those listed as beneficial owners are other legal entities registered in offshore jurisdiction. So, there are other efforts by regulators in the oil and gas and the mining sector to develop registers, NEITI is working with them to ensure the gaps that exist in its register is covered by the current register being developed by DPR and MCO.


For us in Nigeria, we will remain on board the EITI and the ownership transparency train because they align with our national priorities and will help to advance the electoral mandate of our administration, which is to fight corruption, combat insecurity and grow the economy.
Yemi Osinbajo, The Vice President of Nigeria


Nigeria is Africa's largest producer of crude oil. According to the NEITI’s 2018 Audit, total crude oil production stood at about 701 mbbls, increasing slightly from 690 million barrels in 2017 - 2% increase. There. In terms of exports, a total of 147.9 million barrels of crude oil was exported. In the gas sector, a total of 2,909 mmscf was produced, a decline of 5% from 2017 production volume of 3,051 mmscf. The total gas sold in 2016 was 1,252 thousand metric tons valued at US$610.676million..

Nigeria is richly endowed with various types of mineral resources. The government is committed to diversifying the nation's economy; from dependence on oil revenue to non-oil revenues. In September 2016, the Federal Government of Nigeria through the Ministry of Mines and Steel Development, re-launched the Solid Mineral Policy Roadmap, aimed at ensuring policy continuity and consistency in the sector. During the year, 2018, the total volume/quantity of actual mineral production was 46,680,658.24 tonne.


Natural resources

According to OPEC, Nigeria has almost 40 billion barrels of proven oil reserve. Oil and gas dominate the extractive sector in Nigeria, and the country holds 29% of Africa’s proven oil reserves. Nigeria is the Africa's largest producer of oil, and the 13th largest oil producing country in the world. Most of the oil and gas activities are found in the Niger Delta in the southern part of the country. Nigeria is richly endowed with various types of mineral resources. Presently, there about thirty-one mineral finds in commercial quantity spread across the entire country. Some key mineral resources include limestone, laterite, gold, coal, bitumen, iron ore, tantalite/columbite, lead/zinc sulphides, barytes, cassiterite, gemstones, talc, feldspar, and marble.

Over 90% of the revenue accrued to the government in terms of royalties and other fees on minerals comes from quarrying operations according to the 2016 Solid Minerals Audit. A new development in quarry operation is dimension stone quarry for the production of granite and marble blocks, tiles and slabs.

Oil37,070million barrelsNigeria has about 2% of the world's proven oil reserves
Gas5,111billion Sm3Nigeria has about 2% of the world's proven gas reserves
Gold50thousand ounces
Gypsum2million tonnes
Iron Ore3billion tonnesNigeria currently has the 12th largest iron ore reserves in the world.
Lead/Zinc10million tons
Coal600million tonnes
Bentonite and Baryte7.5 millon tonnes
Bitumen42billion tonnes
Limestone568million tonnesLimestone occurrences are reported in over 30 States of the Federation.
Kaolin3billion tonnes
The NEITI Reports have all the information and data that will guide the government to reform the industry.
Clare Short, EITI Chair (2011-2016)

Revenue collection

Nigeria’s oil and gas sector represents about 65% of government revenues. The total revenue flow to the Federation, other tiers of government and sub-national entities from all sources (including crude oil sales, taxes, royalties and other incomes) came to USD 32.6 billion 2018. There was an increase of 55.45% in the total financial flow in 2018 when compared to 2017 (USD 20.9 billion).

The revenues reported by the government from the solid minerals sector in 2018 amounted to N69.47 billion compared to N 52.7 billion in 2017. Total government receipts increased in 2018 by 31.63% compared to 2017 receipts.

Initializing chart.

Reconciled revenues

Commodity trading

Nigeria EITI (NEITI) has produced seven oil & gas reports disclosing details of ‘first trades’ by Nigerian National Petroleum Corporation (NNPC), the Nigerian SOE. Presently, NNPC publishes production, lifting and sales values in aggregates but does not disclose details on off-takers and the beneficial owners operating in commodity trading.

Through its participation in the targeted effort, NEITI aims to conduct an in-depth study that will strengthen transparency and accountability in Nigeria’s commodity trading. As such, the commodity trading report will aim to:

  • Disclose the identity of the beneficial owners of commodity traders operating in the Nigerian Oil & gas sector.
  • Develop a well-defined framework and suitable methodology for mainstreaming commodity trading reporting in the Nigerian Oil & gas sector
  • Design a detailed framework and structure for commodity trading reporting in accordance with the EITI requirements.

Revenue allocation

Revenue from oil and gas are normally allocated to the state budget from joint venture operations through NNPC in accordance with the state’s share in each of the operations. The government’s share is accounted for directly by the NNPC while the sales proceeds with respect to crude oil and gas liftings are accounted through bank accounts overseen by the Department of Petroleum Resources and Federal Inland Revenue Service respectively.

Oil and gas producing regions receive 13% of the government revenue from production in their territory. These revenues are distributed according to an allocation formula (52,68% to central government, 26,72% to regional governments, and 20,60% to local governments).


The EITI encourages multi-stakeholder groups to explore innovative approaches to make the EITI more relevant and useful.

NEITI is trying to investigate, raise debate and promote policy solutions on matters such as data on signature bonuses, unremitted funds by NNPC, crude oil and refined products theft, the need for a new petroleum law and Beneficial ownership. NEITI audits have identified USD 9.8 billion owed to the Federal Govt, of which 2 billion has been recovered.

The NEITI Fiscal Allocation and Statutory Disbursement Audit 2012-2016 brings transparency to the allocation, disbursement and utilisation of revenue from the Federation Account to federal, state and local governments and thereon to local beneficiaries. NEITI published quarterly review of FAAC accounts.


Nigeria was found to have achieved meaningful progress in implementing the EITI Standard. View more information under the Validation section of this page or go to the Board's decision in full. Previously, the country was compliant under the 2011 Rules.

Implementation in Nigeria has mostly focused on oil and gas, which accounts for 99% of extractive sector revenue. The EITI process has exposed outstanding debts by the national oil company to the government, recovered uncollected taxes, identified weaknesses in the regulatory bodies, audited oil-related transfers to the subnational government, estimated oil theft, and examined oil sales. Nigeria EITI also contributes to the ongoing debates on the management of the national oil company, NNPC.

Read more in Nigeria EITI's 2018 Annual Progress Report 


EITI implementation in Nigeria is led by the National Stakeholder Working Group (NSWG). The NSWG comprises representatives from civil society, government, and extractive industry companies and representatives of communities (the six Nigeria geo-political zones), and the media. The NSWG makes decisions based on consensus and is required to meet quarterly. The day-to-day work is carried out by the NEITI Secretariat, which comprises about 50 staff. The NEITI Secretariat is currently run by Dr Orji Ogbonnaya Orji, Executive Secretary.

The NEITI Act 2007 establishes the NEITI body, functions and MSG. It requires reporting from related government bodies and from all extractive industry companies.




The Board agreed that Nigeria has made satisfactory progress overall with implementing the EITI Standard on 27 February 2019.

Nigeria's next Validation will commence on 1 October 2022 in accordance with the revised Validation schedule (Decision 2020-92/BC-300).

Nigeria's progress by requirement can be found in the scorecard below. 

Nigeria's progress by requirement

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